VAT rates

Available VAT rates for purchase invoices

 

This article gives you an overview of the different VAT purchase invoices in Billit. Each rate has a short description of when it is applicable and how you can use it to process your incoming invoices. If you're not sure about a certain rate, if you want to know all the details and exceptions about a certain regulation or if you have questions about processing certain VAT rates, please contact your accountant. As a financial expert they will certainly be able to help you.

Choose the correct VAT rate in the top right corner. This percentage will be copied to the order lines below. If certain items on your invoice require a different rate, you can change this per line.

The Billit OCR automatically detects the different VAT rates on your invoice. If this has not happened, you can add the correct rate here yourself.

VAT rates in Billit

National 21%-12%-6%: the standard rates in Belgium. When you choose this, the rate 21% will be automatically selected. If you want a different option such as 12 % or 6 % you can indicate this in the order line.  

Choose the correct (or most applicable) rate for your invoice under 'vat'. You can also set a standard vat rate for a supplier in their profile.

 

Co-contractor: dit This system applies to work in real estate (for professional purposes), from painting to the construction of parking spaces. In this case, the contractor - your supplier - does not invoice the VAT, but you as customer must declare the VAT yourself; the VAT is therefore shifted to you.

 

Miscellaneous non-VAT: this is for items which should not be included in the VAT return, such as taking back empty packages.

 

IC goods and services: when purchasing a good or delivering a service between two VAT taxable parties in different EU countries the delivery can - under certain conditions - be exempt from VAT (for goods) or the VAT can be shifted to you as a customer (for services).

 

Import-Export EU: When you import goods outside of the EU you don't have to pay VAT on the condition that the goods actually leave the EU.

 

Import-Export via EU: Choose this rate for transactions in which the taxable part is only to appear in grids 81, 82 or 83 of the VAT return.

 

Margin for second hand goods: Thanks to this rule, the seller must only charge VAT on the gross profit margin and not on the full amount that you as a customer must pay. The invoice may be divided into a part on which you do or do not have to pay VAT. The VAT must only be paid on the difference between the purchase and selling price. Check with your accountant about the conditions for this rate.