This post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 2 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2024 Wave 2.
The 6th of the new functionality in the Country and regional section is calculate and post VAT settlement by Activity Code – Italy.
Users can ensure full compliance with Italian tax regulations by calculating VAT settlements based on activity codes.
Enabled for: Users, automatically
Public Preview: –
General Availability: Nov 2024
Feature Details
This feature allows users to configure various Activity Codes, such as trade or service, for use in VAT Settlements. When enabled, Business Central will support posting multiple VAT settlements within the same period, each associated with a different Activity Code. These activity codes will also be recorded in the Periodic Settlement VAT Entry. Once a VAT settlement for a specific period is posted, the system will automatically document the period in the corresponding Activity Codes, ensuring accurate and compliant reporting.
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