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Working with Tax Authorities |
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Topic: Accounting Tax Authorities represent government bodies that collect Tax and/or issue Tax refunds. For example, in the UK a Tax Authority would be Her Majesty's Revenue and Customs or HMRC. This is the Tax Authority responsible for dealing with Value Added Tax (VAT).
In the US, Tax Authorities would represent Tax Agencies to which companies pay their Sales Tax. Unlike the UK there may be a number of Tax Agencies rather than a single government body, such as HMRC.
Because you can make payment to a Tax Authority, or receive payment (e.g. VAT payment or reclaim), it behaves very much like a Supplier. Indeed you can think of a Tax Authority in salesorder.com as being a special kind of Supplier (below).
NOTE:If you are using salesorder.com from the UK we have already included HMRC as a Tax Authority. From this Tax Authority you can,
For more information on HMRC see Working with HMRC (UK Specific).
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