Set Up Cyprus VAT
I am setting now the QB online for a Cyprus Company and i have trouble setting up the VAT rates. I am using QB online for UK company and the set up of VAT was much easier.
QB have already the following VAT rates but i want to create more such as:
-R.C. from Non Eu countries (Purchases)
-Exempt - 0%
- Outstide of Scope - 0%
How can I create the above rates?
Also, I run the Summary report and nothing is shown. I have recorded few expenses with VAT on purchases (recoverable) and they are not appeared to any VAT report. I can see that the VAT correctly treated as VAT and it is shown on Liabilities. Please advise.