The planned economic stimulus package of the Federal Government was presented on 03.06.2020. A central point is the reduction of the value-added tax from 19% to 16% and for the reduced rate from 7% to 5% - for the next six months. This change is to come into force already on 01.07.2020.
What does this mean for your existing solution?
With the change in the VAT rate, certain facilities are required in your Dynamics NAV / Dynamics 365 Business Central solution. In addition, a conversion of the existing documents (e.g. quotation, orders, purchase orders, etc.) and other measures are required on the effective date.
Learn more in the recording of our webcast on this topic:
Watch the recording of the webcast "VAT conversion for Microsoft Dynamics NAV and Microsoft Dynamics 365 Business Central". Here you will learn how the conversion is done.
Further detailed information, a guide to the conversion tool and a checklist are available here, updated regularly:
Do you have questions about the change of the VAT rate in your ERP system? Contact us using the contact form below or send an e-mail directly to your contact person. We look forward to your message.
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