@mklarmann, do you mean that you collect 8% from the customer but only remit 6.1% to the government? In other words, are you making a profit on the tax you collect for the government? Or do you mean that when you charge tax you charge 8%, but when you pay tax on purchases you make you only pay 6.1%.
The first scenario would be more complex. The second just needs two different tax codes to select.
The first one. The official information you find here: https://www.estv.admin.ch/estv/de/home/mehrwertsteuer/themen/saldo--und-pauschalsteuersaetze.html
This specific Swiss tax, makes it hard for us to use the invoice feature in manager.io.
I am sorry, @mklarmann, but neither my German nor Italian is good enough to translate your linked page. I notice this particular page has no English version available.
However, if I understand the tax scheme correctly, you will have to make periodic journal entries to clear the portion of the Tax payable that you do not remit to the government. Perhaps some of the other Swiss users could explain how they handle the situation.
I assume 6.1% is your personalized tax rate but different businesses will have different payable rate. Is that correct?
yes, indeed. Businesses have depending on their max. turnover a different rate:
0,1 %, 0,6 %,1,3 %, 2,1 % max. CHF 5,02 Mio.
2,9 % max. CHF 3,76 Mio.
3,7 % max. CHF 2,95 Mio.
4,4 % max. CHF 2,48 Mio.
5,2 % max. CHF 2,10 Mio.
6,1 % max. CHF 1,79 Mio.
6,7 % max. CHF 1,63 Mio.
This tax only applies under special conditions. They may all charge 8% VAT.
@Tut What we currently do is to bill 8% regular. And make a journal entry to subtract 1.9% again.
OK, here is the thing. I’ve implemented VAT flat-rate scheme in Manager but the implementation is a bit complicated and want to simplify it before extending the support in other countries. Possibly I’ll make it so you will be able to create custom tax codes which will have two rates… the “official” and the payable rate.
Have been reading this item with interest as i don’t seem to have a problem using manager.io for flat rate vat. All sales invoices are sent out using the tax code for 20%flat rate, and pay the HMRC our given rate which is 10% of the total (i.e. net + 20%vat). Since purchase vat is not included in the calcaulation it’s not recorded. I do only do book-keeping but the accountant receives all the paperwork at year end with a trial balance and seems satisfied. Do you think I am doing something wrong or I am just lucky it works for me. I wouldn’t like to have to manage changes that may upset this.
Yes, I am - thanks for confirmation.
impressive! thank you. I will run this through our accountant and come back with some feedback if needed.
Did you mean by other countries, other then Switzerland or UK? We would be happy to be able to use the feature by end of march…
Not sure I’m able to deliver by end of March. Right now, I’m trying to organize all the feature requests I’m getting and create some fair system in which order to implement them.
Hi all,
Quite new to Manager but did VAT FRS ever get implemented i cant seem to see this with the available choices of built in tax codes.
essentially i want to charge 20% VAT to the client and pay 15.5%, are there any workarounds that im missing?