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Post Info TOPIC: Expenses incurred in EU and NON EU and VAT receipts
pierresalt


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Expenses incurred in EU and NON EU and VAT receipts
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Hello there,

This is my first post here

I am doing some bookkeeping where there are alot of expenses incurred in Europe across several different countries and using DOSH not Sage so do not use sage tax codes.
 
I have done some research and believe that I have to process the allowable expenses for VAT purposes excluding the local VAT then claim it back annually from each country within the Eurozone.
 
Can anyone confirm that I have got that right and I should not be writing off the gross amount as an allowable expense for Euros but when the expense is incurred outside the Eurozone (eg. Bosnia) I can claim the gross amount?
 
Also, if the receipt does not have local VAT showing on it (ie.a coffee in Italy) can I only claim the Nett amount or the Gross amount as an allowable expense?
 
Thank you!


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leshoward


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I would suggest you enter the gross amounts.
Once you receive the refunds, then I would journal the relevant VAT amounts. Each MS has its own rules as to what VAT can be claimed.

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pierresalt


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Thank you Les!!!
Really appreciated!

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