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A
adrian-wall-cetr
May 31, 2023
Question

Is there a VAT rate in QBO Ireland for "Services sold to customers in the EU, where a reverse charge applies at the standard rate"?

  • May 31, 2023
  • 1 reply
  • 0 views
RCS is available for "Services bought" but none for "Services sold"

1 reply

C
Carneil_C
May 31, 2023

Welcome to the Community, @adrian-wall-cetr. I'll share some insights about VAT rates for QuickBooks Online Ireland. 

 

Please know that we're unable to provide the specific VAT rate for services sold to customers in the EU, but you can add a tax rate for VAT, like local tax, that isn't already included in QuickBooks. 

 

Here's how: 

 

  1. Go to Taxes and choose Add Tax.
  2. Select Tax rate.
  3. Give the new tax rate a name and include some details in the description.
  4. Select the tax agency it applies to and the rate percentage.
  5. Click Save.

 

Moreover, I recommend seeking professional advice from your accountant to ensure the best process for adding tax rates.

For more insights on setting up VAT rates, check out this guide: Set up and edit VAT settings, codes, and rates. 

 

Also, here's a resource for finding a list of common UK/EC VAT codes: VAT codes in QuickBooks Online: A complete guide. 

 

Let me know how else I can help you with VAT by commenting below. I'm here to lend a helping hand.

A
adrian-wall-cetrAuthor
June 1, 2023

Thanks, I am familiar with the process of adding a new tax rate.

 

However, I need to apply the following (similar to existing RCS rate):

TAX ON SALES ITEMS

Standard EU Services Sales 23%

Negative Standard EU Services Sales -23%

 

These options are unavailable.

Can you advise?

 

Thank you

R
ReymondO
June 1, 2023

Thanks for getting back to the thread, @adrian-wall-cetr.

 

At the moment, the option to set up specific tax rates is unavailable in QuickBooks Online. For now, you can manually add these rates in QuickBooks. If you're unsure about which tax agency to use, I recommend consulting with your accountant. They can provide you with the right guidance to ensure that your tax rates are accurate.

 

Alternatively, you can also look for a third-party app that can help you record these rates in QuickBooks. Simply go to the Apps menu and search for the app that suits your needs.

 

We always want to ensure that we're compliant with Ireland's rules and regulations. Therefore, I suggest visiting their website for more information:  VAT Rates Overview. 

 

Lastly, you can check out our resource hub to get links about managing your tax-related tasks in QBO. 

 

Please don't hesitate to reach out if you have any further questions or concerns. The Community is always here to help you.

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