EXIL 2.0 package includes the following functionalities: Annual VAT Declaration report, Self-invoice and Withholding tax data on invoice.
Annual VAT Declaration report helps the users to fill the revenue agency return forms “Dichiarazione IVA Annuale” providing the ERP posted sales, purchases and tax information grouped in a specific format, required by Italian tax legislation, necessary for the annual submission to the Italian Authorities.
The report shows all the Tax Transaction Amounts and Bases on a user provided range of dates.
Self-invoice functionality allows to manage the cases where the obligation to apply the VAT and to issue the invoice is charged to the customer (e.g. services performed by non-EU subjects are subject to self-invoicing), thus the reverse charge procedure. The self-invoicing process is handled thanks to an automation that records account payable self-invoicing based on Italian tax requirements.
Finally, Withholding tax data on invoice functionality allows to insert the withholding tax information on two types of documents: Vendor invoice and Advance payments.
It allows to insert all the withholding tax information at the vendor invoicing step instead of the payment one. The information will be stored in the invoice adding a new section on the invoicing forms/functionalities and automatically booked when creating the payment journal related to the invoice.
Besides, it allows to handle the withholding tax directly on the Advance Payment transaction even if an invoice is not yet posted adding a functionality in the Vendor Payment Journal to book the withholding tax information at the Payment step (Advance Payment).