Accounts of the Marginal Tax Function
Activation of the Marginal Tax Function
Accounts of Sales and Purchases
Correction Accounts of Sales and Purchases
Receivable Account of Marginal Tax
The margin tax function can be used to calculate the margin tax on the sale of used goods subject to margin tax. This function cannot be used for calculating the margin tax in the tourism industry.
The accounting calculates the profit margin based on the entered transactions and if any, the information appears in the VAT calculation process also on the TYVI file. If there are receivables left from the margin, they will be carried over for use in the next period.
Activation of the Marginal Tax Function
You can find detailed instructions for the activation of the marginal tax function here.
Accounts for Sales and Purchases
To calculate the margin tax, separate accounts are needed for both margin tax purchases and margin tax sales by VAT rate. Account numbers and names can be defined freely as desired or the accounts according to Liikekirjuri can be used.
Accounts for margin tax sales entries in Liikekirjuri:
Accounts for marginal tax purchases in Liikekirjuri:
In the settings for accounts related to margin tax sales and margin tax purchases, it is essential to select a VAT code for the account that is defined as the VAT code for margin tax. The VAT code for sales accounts is selected according to the respective VAT rate's margin tax sales VAT code. In contrast, the VAT code field for purchase accounts should select the margin tax purchases VAT code corresponding to the respective VAT rate. More detailed instructions regarding VAT codes for margin taxes can be found here.
Example of the settings for account 3410 for margin sales:
Example of the settings for account 4160 for marginal tax purchases:
Adjusting Accounts for Sales and Purchases
For the calculation of margin tax, separate adjusting accounts are required for sales and purchases based on VAT rates. If these accounts do not already exist in the chart of accounts, they must be established. The account number and account name can be defined freely as desired.
In the settings of the adjustment accounts, special attention must be paid to the VAT code and counter account sections. The VAT code is defined as the domestic sales VAT code corresponding to the relevant VAT rate for both sales and purchases. The counter account must be defined as the receivable account for margin taxes. If the company has activities subject to both a 10% VAT rate and a 25.5% VAT rate, they must have their own receivable accounts.
For example
Marginal tax receivables account
For calculating the marginal tax, separate receivable accounts are required for each VAT rate. Therefore, if a company has operations subject to both a 10% VAT rate and a 25.5% VAT rate, they must have their own receivable accounts. These accounts should be established in the chart of accounts if they do not already exist there. The account number and account name can be freely defined as desired or the accounts according to Liikekirjuri can be used.
For example