Change
- SuiteTax
- SuiteQL Support and Country Tax Reports Page Enhancements in Tax Reporting Framework
- Legacy Tax
- Changes to VAT Thresholds in the EU and the Introduction of One Stop Shop (OSS)
- International Tax Reports Enhancements ▬ Ireland Postponed Accounting for VAT on Imported Goods ▬ EU VAT One Stop Shop Tax Code Provisioning
- International Tax Reports Issue Fixes ▬ International Tax Reports 3.120.0 Issue Fixes
- Tax Audit Files Enhancements ▬ Enhancements to Period End Journal Entries for France FEC ▬ Period End Journals Support
- Tax Audit Files Issue Fixes ▬ Tax Audit Files 1.83 Issue Fixes
- ANZ Localization Enhancements
- Norway Tax Reports Enhancements Changes to VAT Thresholds in the EU and the Introduction of One Stop Shop (OSS) As of July 01, 2021, the EU abolished their distance selling threshold and replaced it with a common threshold of €10,000 for B2C sales throughout the EU. To simplify VAT collection and minimize cross- border compliance costs, the EU extended the current Mini One Stop Shop (MOSS) scheme. The scheme is now called One Stop Shop (OSS) and includes physical as well as digital goods and services. NetSuite extended the existing MOSS functionality to allow customers using Legacy Tax to take advantage of the new OSS scheme. B2C related changes include:
- Setting the member state of identification to a particular subsidiary.
- Applying an OSS nexus to transactions where OSS items have been included.
- Automatic creation of VAT codes for the 27 EU member states once the OSS feature is enabled.
- Updated VAT determination logic based on the country of consumption of goods and services.
- For customers who were using the MOSS scheme, item records containing the “MOSS Applies“ checkbox, either checked or unchecked, were automatically migrated to the OSS scheme. Note: The One Stop Shop feature requires that you first install the International Tax SuiteApp (Bundle ID 43003), which provides OSS tax codes and tax types. For more information on installing this SuiteApp, see the help topic Installing and Setting Up International Tax Reports. For more information on the One Stop Shop feature, see the help topic EU One Stop Shop (OSS). For an overview of the legislative changes see SuiteAnswers Article ID 99970.