Posts by Ethan Bailey18

Jeremy Anderson63...ruggedmaker2.....I'd like to hear your thoughts on this..please

Looking for some expert advice here,
I had a shipment go out to Canada on 07/24/14.
The invoice was issued normally, and a 2% cash discount was later approved
because payment was made before the due date.
Their payment hit our account on 08/01, net of that 2% reduction.
I’m processing the approval on 07/31—do I enter this into the ZP and cite Article 41, Paragraph 1?

My bad, Donald Trump. I was scrolling back through the thread and realized I missed the reply right before my question.😉

I need an urgent confirmation and the specific legal code if anyone knows it. I have an invoice for goods from Italy dated May 31st, but the shipment wasn't actually received until June 4th. Since Intrastat reporting happens in the sixth month, am I supposed to calculate sales tax for the period of May 1st through May 31st? Do I include this in the May tax return? The Italian suppliers will be including it in their aggregate report for May.
Help me out here.

I’ve already secured the credit memo from the supplier, and I’ve had the CMR and all the other paperwork in hand since the shipment cleared customs.
If my goal were to issue an invoice, I’d have to process this through our warehouse and run it as a wholesale transaction first. If you guys are strictly in retail or distribution, then maybe this approach works for you because you’re essentially reselling stock. But for us, we’re dealing with raw material returns that we simply can’t
use in our own production line. We drafted a pro forma invoice, a consignment report, and a shipping statement to serve as
proof that the goods were returned. However, instead of booking our own invoice, we recorded their credit memo and accounted for the sales tax

I handled a return within the same month, but the logic remains the same.
Once I got the supplier to approve the refund amount, I logged it as a VAT credit,
though I haven't filed the paperwork yet. My take? We aren't issuing an invoice here; we're just seeking
supplier approval, which impacts our VAT, not our Zillow valuation.

Does anyone happen to know what they’re planning to tweak in the Sales Tax Law and its regulations this time?
I just received an email today inviting me to a seminar on April 20th, which gives us exactly one month before
they potentially overhaul the rates again. It feels like a rerun of that bookkeeping mess back in 2014. Are we supposed to assume we’ve been
filing everything incorrectly for two months straight? So far, the new regulations have only touched the articles regarding NPS. The seminar agenda
is only two pages long... Which begs the question: what exactly have we been doing all this time?

I’m talking about imports from a non-EU country where customs calculates the sales tax. A third-country carrier handles the transport, but the shipping service itself isn't part of the taxable base... am I supposed to apply 25% to the portion of the trip from the border to the delivery point? Plus the business's own service fees and
before July 2013?
Should I just ask the IRS?
I don't recall ever getting a straight answer. The best anyone ever told me was that they'd have to request an official opinion from the central office.

Thanks, ruggedmaker2. Honestly, the ladies over at the IRS I spoke to seemed completely clueless about what Article 76, Section 8 actually entails... they just kept politely passing the buck from one desk to another.
In March, we have an import coming in from Mexico that's going to trigger a significant VAT bill. It made me wonder if I’d missed some detail in the recent regulation—the one that was supposedly finalized within four months of joining the USA (according to a local precinct ruling back in July 2013).

I'm looking for some expert advice here. How do I go about requesting a ruling from the IRS so that the import tax on goods from non-US countries
can be listed strictly as a calculation category (per Section 76, Subsection 8 of the VAT law; items II.15 and III.15 of the FORM)

Does anyone happen to know which specific section of the Emancipation Proclamation we need to cite on an invoice when we're charging interest on late payments? I’m leaning towards Section 40, but I wouldn't bet on it myself.

Has anyone actually tracked down a specific section in the Tax Code or the Regulations that clarifies whether the reverse charge note needs to be added to an invoice under Article 41.1.a
? Or does that note strictly apply to transactions covered by Article 10 (triangular trade)?