Hi Jacopo, Hans, All,
From: "Jacopo Cappellato" <[EMAIL PROTECTED]>
Hans Bakker wrote:
One other remark on VAT, VAT is only required for national sales,
international sales have no VAT, even within the EEC.
From a tech point of view, this is not different from the current sales tax
implementation: you can easily setup geo rules for the
applicability of tax rates.
Jacopo
So if you have only customers outside your own country, you normally get
your VAT paid on purchase orders back from the taxman.
Regards,
Hans
There other specificities if you are not paid in your country money (you should
avoit it ;o)
In France, for instance, there are 2 cases (but I suppose these are common and
global practices).
1 . If you use a double entries accounting you are allowed to issue invoices in
a foreign money. You must then convert the paiment
in your money at the date of paiment. The difference between the registered credit
and the received paiment must be counted in "gain
or loss of change".At end of exercice you must convert the account in foreign
money to your money at the date of the balance. The
difference between accounting and conversion must be registered in "gain or loss of
change".
If an invoice has been registered in this exercice and the paiment in another
money is in the next exercice there is a difference
between accounting and fiscal paiments since you must convet the the credit at
the end of the exercice. If it's a plus you must
credit a specific account (477 - "écart de conversion passif" in french). This
value must be reintegrated from a fiscal view. If
it's a minus you must create provision for change loss, which is not fiscally
deductible. And you must debit a specific account
(476 - "écart de conversion actif" in french) which is fiscally deductible.
2. If you use a simple accounting (collections and disbursements, as an
independent for instance) you must issue invoices in your
own money. At end of exercice you must convert the account in foreign money you
received into your money at the date of the balance.
The difference between accounting and conversion must be registered in gain or
loss of change.
Actually I'm just discovering all that :(and I should know and care, by chance
I'm only concerned by the 2d case :o)
Jacques
