Manage VAT periods
An organisation may consist of a number of branches, each with a certain level of autonomy.
Each branch can be a separate legal entity, but they all are organised within the same tenant account in Visma Net.
These branches may have different durations of VAT periods and even different durations of tax years. Thus, sometimes for a particular branch, you may need to do one of the following:
- Set up an individual VAT period duration
- Change the VAT period duration for particular reasons (for example, the branch income has changed, so the tax periods have changed from a month to a quarter)
- Configure a short tax year
In Visma Net, you can configure a tax year for each branch and tax agency combination individually, specify the particular VAT period type, and set up a short tax year.
Each branch can prepare, void, and release its own VAT reports and close the branch’s own VAT periods separately from one another.
The topics of this chapter describe the setup and maintenance of a tax year in Visma Net.