Summary
When doing business with European Union (EU) countries, VAT must be reported. Business Central can automatically calculate VAT amounts for sales, purchases, and imports. However, you must first set up VAT in Business Central.
This module explained how to set up VAT posting groups, VAT clauses, and VAT statements. To post documents and journals with VAT in Business Central, VAT posting groups are required. To periodically file VAT reports, you need a VAT statement. It's important to understand how to set up VAT in Business Central if you have any VAT reporting requirements.