Posts by Larry Phillips2

So, I’ve got a situation here. An American company is getting an invoice for some goods acquired from a supplier in Bulgaria. There's a receipt attached to the invoice. Now, the twist is that this exact same merchandise is being sold off to a customer who is also based in Bulgaria. All three parties involved have valid VAT IDs. Here’s the kicker: the goods never actually move. The Bulgarian supplier ships them directly to the Bulgarian buyer. The American company is just acting as the middleman in this whole setup, and they aren't even tacking on a markup. Honestly, I don't get it. If both the supplier and the buyer are right there in Bulgaria, why on earth is this being routed through an American firm?

ruggedlynx63 said:Yeah, exactly like that.

So what, if I've got a car where the business versus personal split is 70:30, does that mean I just can't claim any sales tax deductions at all?😵

The invoice from this American supplier shows "VAT Exempt per section 46/1" under the tax code
VAT exempt under article 138(1) of the US Tax Code.
How should I book this? Is it just a standard asset acquisition where I record both the tax and the input credit?

I'm getting a certificate error. Who am I supposed to contact to get this renewed?

I just got slapped with an interest charge from one of my suppliers in the European Union because I missed some payment deadlines. I'm trying to figure out how to book this—should I be looking at KTO 2210 P or 4 D?
Which form am I supposed to use for interest expenses?