The Value Added Tax is payable at the rate of 12% on goods imported into Botswana.
In the Purchase invoice,
Enter the Supplier Invoice number and date.
Select the required party ledger in the Party’s A/c Name field.
In the Party Details screen, enter/modify the required details.
Select Purchase Ledger grouped under Purchase Accounts and predefined with VAT/Tax class - Purchases - Imports @ 12%.
The VAT/Tax Class appear as Purchases - Imports @ 12%.
Select the Name of Item from the List of Items.
Enter the Quantity and Rate. The Forex Rate of Exchange screen will be displayed for entering the conversion factor.
The amount is automatically displayed in the Amount field.
Select the input VAT ledger with the VAT/tax class - Input VAT @ 12% on Imports. The exchange rate and the resultant value will be automatically calculated and displayed.
The field Show Statutory Details will be set to No which can be enabled if required.
Press Accept button (Ctrl+A) to accept and save.
The gross assessable value of purchases recorded using the VAT/Tax class - Purchases - Imports @ 12% is captured in Standard Rate column of box 12. The input tax entered using the VAT ledger predefined with VAT/Tax class - Input VAT @ 12% on Imports gets displayed in Total Input Tax Claim column.
'Imports (VAT)' has been shared with
