Tax Services Setup for Irish Entity

Posted By kkyle2 over 2 years ago

Good day,

Sage 300 2021 PU2

I have a new Irish entity to setup which will be my first time setting up an Irish/European entity. In looking at the VAT/Tax reporting requirements I was wondering if there were any samples out there of the Tax Services configuration for Ireland? In looking at the Irish VAT requirements it seems very vendor/customer specific and not like like North America where, at least in Canada, it is more about the service, goods and where they land.

Is there a Sage 300 "Sample" company for Ireland that I could take a peek at or download (couldn't find anything in the KB)? Or, if someone has setup Tax Services for an Irish company I would love to hear your thoughts.

Thanks for any input you can provide.

Kimberly

0 Stephen Bagnall over 2 years ago

It's not usually vendor/customer specific. It is still based on the goods/services and where they are bought from/sold to.

For example, in UK and Europe we would most likely set up item tax classes representing the rates applicable for goods and services (eg, 1 = Standard 23%, 2 = reduced 13.5%, etc).

Your vendor/customer classes would normally represent where bought from/sold to. So you might have 1 = domestic, 2 = EU, 3 = Rest of World.

This is slightly simplified and the full configuration depends on whether you are B2B or B2C and whether you are importing/exporting goods and/or services.
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0 kkyle2 over 2 years ago in reply to Stephen Bagnall

Thank you Stephen for your input. We have a meeting with our Irish accounting firm tomorrow so with your input and a greater understand of the business we should be able to achieve a proper setup.
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Tax Services Setup for Irish Entity

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