How to setup Input VAT and Output VAT?
For our online class we’re asked to setup Input VAT and Output VAT with rates at 12% (VAT Rates in the Philippines).
I looked at Netsuite’s Help page but to no avail.
Rookie Asked on May 22, 2020 in Taxation.
We will need to define the Tax Group, associate the Input VAT and Output VAT tax codes to that tax group and then apply that tax group on your Sales Transaction.