We are pleased to announce our latest update in the Estonia Localization SuiteApp. This update is specifically designed to align with the new tax rate, as mandated by the regulations from Estonia's Minister of Finance.
What’s New:
New VAT Position Mapping in the Tax Code : new option is added in the tax code to allow mapping for the 2.2 VAT row.
New Tax Rate Row in UI: A new row is added to the VAT UI to accommodate the new tax rate of 13%.
New XML Elements: New elements are incorporated into the downloadable XML file. These enhancements are tailored to support the new tax rate and other detailed requirements specified by Estonia's Minister of Finance.
Required Action
Map your tax code to the proper positions. This will require mapping the new tax rate of 13% to position 2.2 and 4. You may follow the steps below:
Navigate to Setup > Accounting > Tax Codes.
Filter the Country to Estonia so that only the tax codes from Estonia will appear in the list..
Edit the new tax code that was created (13%), then, assign 2.2 and 4 in the [STA-EE] Vat Position field. You may create a new tax code if it has not been created yet.
Then click Save.
Then, update the Estonia Localization Settings to reflect the new tax rate (13%).
Navigate to Setup > Setup Estonia Localization > Estonia Localization Settings.
Click on Edit next to the localization setting you wish to edit.
Navigate to the VAT Report subtab, then on the [STA] EE VAT Report Box 4 - Net Amount Multiplier Based on Reduced VAT 2.2 field, select the tax code (13%) that you have created. Note that this will be the basis in calculating the box 4 of the VAT report.
Then on the [STA-EE] VAT Report Box 2.2 field, select [STA] EE VAT Report - Box 2.2.
Then click Save.
Patches
Foreign Exchange Rate Integration
Resolved the issue in FX rate update usually caused by consecutive holidays
Send an email to support@staria.com for questions or concerns regarding this topic.