Commingling VAT charges
Can anyone clarify what these Commingling VAT charges are?
We use Commingling Inventory and have recently activated PAN EU
The charges seem to cancel each other out, receive once credit and debit but there are two that have stood out.
-
UK Marketplace credit of 1.67 - same transaction debit of 2.04 in Italy
-
(Zero Rated in UK product/VAT rated in Italy) UK Marketplace credit of 0 - same transaction debit of 4.63
I have attached screenshots
Hope the above makes sense, if anyone could shed some light on what these charges are. As far as I am concerned commingled inventory means an inventory swap, there would be financial transaction involved and who are we paying VAT to?
8 replies
Seller_esvgLzKXw2YAl
Do you get any more information if you go into the transaction itself?
Seller_5pg4YQbBbAb3a
Hello,
the question arose with these transactions, since in fact our accountant says that they are, as it were, interchangeable.
But with what documents we can confirm this?
Thanks for any help.
Seller_VJFloi7Cs0iaR
The paperwork you can find in Tax document library. but interesting thing on the paperwork commingling VAT cancel each other but the VAT on Sales is much higher, which is on the other report - transaction report. So Would be great if somebody could clarify what VAT is commingling and what VAT is on Sales
Thank you Margarita
