2024.08 | 2 August 2024
KEY RELEASE HIGHLIGHTS
This key release highlights solutions to our customers' relevant business challenges and ensures an improved user experience on the ONESOURCE Indirect Tax platform.
Business Challenge | How OIC Can Help | Product Updates In This Release |
|---|---|---|
Customers see a growing need for a unified solution that shows a direct comparison between their E-invoices and VAT returns data to identify any discrepancies. | Improved the ONESOURCE E-invoicing reconciliation report to work with the E-invoicing import and fully reconcile and compare with their VAT imports. | Improvisation of the E-invoicing reconciliation report by supporting E-invoicing import files. |
The Australian Tax Office (ATO) needs the top 100 GST taxpayers to complete the GAT analysis and recommends it for other taxpayers. | This release includes the Australia GST Analytical Tool, which helps customers reconcile data from the underlying BAS returns to financial data. | Australia GST Analytical Tool. |
Legislative Updates
Thomson Reuters' content team constantly monitors changes in Indirect Tax Legislation, ensuring our content supports the latest requirements from the covered jurisdictions.
Finland VAT Return -
Finland increases the standard VAT rate from 24% to 25.5% starting in September 2024. Applied the new percentage on goods and services that are subject to the 24-percent VAT rate prior to the legislative update. The return will only include a box for reporting under the increased standard rate. The reduced and intermediate rates remain at 10% and 14% rates.You can find more information here.
VAT Returns/Listings
Belgium V sheets -
Added new sheets under the Main Return section with the PDF version of the VAT form. The form populates the values from the Return Summary and Company Information sheet. Added both the French and German language versions of the form to the latest template.Czech Republic VAT Control Statement -
Extended the Date of Taxable Liability logic in sections A.4. and B.2. by adding the Date of Supply
field. The system picks up the Taxable Liability Date in the first choice as Date of Supply
, if not filled out then Invoice Date
, if not filled out then Reporting Date
.Croatia VAT Return -
Introduced a logic change to the Croatian VAT Return to cover a scenario using partially recoverable tax codes.Previously, the system displayed amounts separately as the full Net Amount and the partially deducted VAT amount. After this release, the system shows the Net Amount as an apportioned part of the Recoverability Percentage. When 50% of Input VAT gets deducted, the VAT Return summary presents 50% of the Net Amount.
France VAT Return -
Enhanced Box 19 lets the Other Adjustment schedule to populate it.New Zealand Management Information -
Amended the VAT Due/Repayable box in the Management Information sheet. Now, the value reflects a positive amount when in a payable position, and a negative amount when in a refund position.Portugal VAT Return -
Updated Boxes 7 and 8 of the VAT return to include transactions imported as Credit Notes in the reporting. If the total value for any of these boxes is lower than 0, the system displays 0 because negative values cannot be shown in these boxes.Portugal Annexes Enhancement
- Annex II -Included several enhancements following client feedback to some specific scenarios as follows:
- When the Country Code reflects value RC (Reverse Charge transactions), the VAT ID column should display the Reporting Entity VAT ID.
- When the Country Code field reflects value OR (Other Type of transactions with non-EU counterparty and not RC), the VAT ID column should also display the Reporting Entity VAT ID.
- There should be no line items where the VAT Amount equals 0.
- If a transaction has a value for Import Document field (related to import transactions), then the Country Code and VAT ID column should display as blank, and the other way around.
- Annex 40 -Enhanced the logic for scenarios where a credit note purchase under the reverse charge is recorded with the same Customer VAT registration as the Reporting Entity VAT ID. After the change of logic, the VAT ID for these transactions will no longer be displayed in the annex.
- Annex 41 -Updated logic Transactions where the VAT Amount is 0 shouldn't be displayed in Annex 41.
Slovakia VAT Control Statement -
Updated section D.1 of the Control Statement so that the Turnover value reflects both Net and VAT amount. Previously the VAT Amount wasn't considered in this section.Slovenia VAT Forms -
We updated the display of the forms in both languages to ensure data flowing to boxes 03 and 04 is clearly displayed and not distorted by the PDF background.South Africa Box Number Report -
Fixed an issue in the tax codes metadata to ensure the tax code related to Debit/Credit note outside of the period (AR_DCN and AP_DCN) are correctly captured in the analytics reports. Previously the mappings weren't reflected in the Box Number report. There is no impact on box mappings in the return summary. Switzerland Box Number Report -
Fixed an issue in the tax codes metadata ensuring the tax code AP_RCDOMPURSRV_S is correctly captured in the analytics reports. There is no impact on box mappings in the return summary. Spain Box Number Report -
Fixed an issue in the tax codes metadata ensuring the tax code AP_INTRAACQGDS_Z is correctly captured in the analytics reports. There is no impact on box mappings in the return summary. Tax Codes
Singapore:
- Added a new tax code to handle a tax scenario previously not covered by automated tax codes mappings: Import of services subject to Reverse Charge – Partially Recoverable: AP_IMPGDSDEFREVXD
- Enabled the custom recoverability percentage for partially recoverable tax codes, previously only the default 50% recoverability percentage was supported
Slovakia -
Added 2 new tax codes to handle a tax scenario previously not covered by automated tax codes mappings:- Domestic Purchase of Goods -Partially Recoverable: AP_DOMPURGDSXD.
- Intra Community Acquisition of Goods –Partially Recoverable: AP_INTRAACQGDSXD
Spain -
Added a new tax code to handle a tax scenario previously not covered by automated tax codes mappings:- Intra-Community Acquisition of Goods 5% rate: AP_INTRAACQGDS_DA.
E-Filing and Coverage Expansion
Germany ESL Correction -
Enabled Direct filing of ESL and ESL Corrective submission. The XML format is used to e-file to the tax administration however users can choose to export files in the CSV format for manual submission in case of a standard ESL report. The corrective return can only be filed directly without exporting the filing output).The ESL Corrective sheet is only present if the Return purpose is set as
Corrective return
, the sheet is supported through manual entry.Additionally, a few enhancements have been added:
- Transaction lines with zero value amounts are no longer included in ESL e-filing (CSV output XML direct filing).
- Transaction lines with zero value amount are included in the case of ESL Corrective filing (direct XML filing).
- Company address (1) got split into Street, House number, and House number addition.
Portugal Annex I & II -
Updated logic for the element id
in Annex I (Customer/Clientes) & II (Supplier/Fornecedores) to ensure the correct reference to periods is included.After this release, the element id will contain the following logic:
- Monthly Taxpayers: <fornecedores/clientes id="YYMM"> - reference to year and month
- Quarterly Taxpyers: <fornecedores/clientes id="YYMMT"> reference to year and month where MM refers to the last month of the quarter within the submission period
Sweden VAT Return & ECSL -
Updated logic to display the correct format of Company Registration Number for e-filing of VAT Return and ECSL respectively. The required format of business number for VAT Return is 111111-1111 while for ECSL is SE111111111101.Slovakia ESL -
Updated the structure of the XML output to include pagination. In case there are more than 12 transaction lines, then the order of these should be displayed in different blocks rather than be included in a single page. For example, a block with 12 lines for ESL section, a block with 12 lines for Call of Stock section, and then another block of ESL/Call of Stock and so on.Automation of Company Name from Entity Manager -
This enhancement, released in the past months for most covered countries within OIC, is now available in August for the remaining countries: Argentina, Bulgaria, Chile, Colombia, Lebanon, Mexico, and Venezuela.Automation of Company Registration Number from Entity Manager -
This enhancement, released in the past months for most covered countries within OIC, is now available in August for the remaining countries: Argentina, Bulgaria, Chile, Colombia, Lebanon, Mexico, and Venezuela.Other adjustment report – Enhancement to Include Other Adjustments (S3) Sheet -
This sheet supports manual adjustment boxes and manual return boxes on the Return Summary Analysis sheet. This sheet allows users to import and report on multiple adjustments for each of these boxes on the return. We applied this enhancement in this release to the following jurisdictions: Hungary, Italy, Oman, Poland, Romania, Singapore, Spain, and Sweden.Other Enhancements
Australia GST Analytical Tool
The continued focus of the Australian Tax Office (ATO) is to understand a taxpayer’s tax governance framework and test their tax risk management controls and processes as part of their review. This includes a clear expectation that taxpayers are undertaking a reconciliation process between the BAS and audited financial statements with the assistance of the GST Analytical Tool (GAT).
To manage this challenge, we are releasing a new module called Australia GST Analytical Tool (GAT). This can be added to customer databases in customer management as per other country templates.
This module contains worksheets for:
- BAS and Accounting Summary (ATO Summary)
- BAS details
- Method Statement
- Revenue & Expenses
The GAT is linked to the underlying OIC returns. It brings in and summarizes the Business Activity Statement (BAS) figures for these underlying returns. Clients can enter BAS figures into the Australia GAT module themselves. Currently, you'll need to manually enter the revenue and expense sheets. However, a new feature will enhance this process by aiding the import of this data into OIC in a release later this year.
If you are interested in discussing this further, please contact the support line or discuss with the ONESOURCE team.
Enhanced Logic of Closing/Opening balance in SAF-T Report -
Updated the logic for consolidation of Opening and Closing balances for the SAFT Norway & Romania jurisdictions to sum all the balances and calculate the closing balance resolving previous discrepancies in showing the closing balance. This improvises the handling of data from multiple ERPs, enhancing accuracy for customer and supplier accounts. Affected import types are DTR-General Ledger Accounts, DTR-Customers, and DTR-Suppliers.Returns
Improved control during the creation of the corrective returns:
Introduced a new alert message: “Before creating a corrective return, please ensure that all calculations in the source dataset are set to read-only.
” to prevent users from creating corrective returns when the original return is still in the draft or editable status.If the user tries to modify the status of the original return after creating a corrective return, the system displays the following alert messages.
- When the user tries to change the return status using theMoremenu in theReturnsscreen, the following message is displayed: “Status cannot be changed for one or more returns as they have corrective returns.”
- When the user tries to change the return status from the workbook, the following message is displayed: “Status cannot be changed as this return has a corrective return.”
These measures help to prevent data inconsistencies, ensuring smoother operations and maintaining data accuracy.
SFTP Updates
Improved Handling of File Naming Rules for SFTP Imports:
Resolved an import issue seen with file naming rules that included curly braces (like Purchases_ORACLE_EBS_\d{6}
). The system didn't handle these rules properly in the past due to a formatting issue. Now, with the updated logging systems, files are interpreted and processed accurately. This improvement ensures the smooth and reliable operation of the SFTP import process.SFTP – Authentication:
As part of Thomson Reuters’ mission of ensuring the highest quality of data security, we have requested clients to update their SFTP authentication from password-based authentication to certificate based authentication for the SFTP automated import. initiated this process previously but we've noticed some clients are still using password-based authentication, which will cease support from 1 October 2024
; data needs to be imported manually if certificate-based authentication isn't yet enabled. Thomson Reuters team will be contacting all relevant clients, but if you weren't notified, please contact the customer support team who can guide you further.
Imports
Introducing E-invoicing import type:
This new import capability allows users to import the e-invoicing data into ONESOURE Indirect Tax application using the E-invoicing
import type. Users can generate the
VAT E-Invoicing Reconciliation
report (released as part of 2024.07) after importing the VAT and E-invoicing data. Which will assist businesses in reconciling e-invoices with the VAT \ GST return and is available to all customers from this release.Please contact the ONESOURCE support team for any feedback or further questions.
Import Status Update:
Enhanced the import process to improve the accuracy of status updates. Previously, some imports were marked as Queued for Upload
even though they were successfully uploaded.It was identified that the use of the same unique identifier for both group and child uploads led to status discrepancies. We addressed this by ensuring unique identifiers are appropriately assigned and the detailed status accurately reflects the successful completion of uploads. This update ensures reliable status tracking and minimizes discrepancies between the actual upload state and its status display.
Enhanced Logs for Delete Operation:
Enhanced the logging capabilities for the import delete operation. Ensures that detailed logs are generated when an import is deleted through the user interface, enabling better tracking and diagnosis of any issues during the delete process. This improvement enhances the reliability and transparency of the import management system.Reports
Enhancement to GL (General Ledger) Reconciliation Report:
Introduced a new report parameter with the name of Minimum difference in amount
, allowing users to set a threshold for the Difference in tax amount
column. You don't need this parameter. When you run the report without a minimum difference value, it shows all records with varying differences in amounts. This allows the report to highlight or filter entries where the difference in tax amounts exceeds the set limit.Introducing 'Norway - Summary by Tax Code' report:
This release introduces a new standard report that extracts data in the Summary by Tax Code Sheet for the Norway jurisdiction with additional fields, increasing the visibility of the data in this sheet of the return.Other Updates
Improved Error Messaging in 'Configuration':
This release includes improvements to the error messaging within the Configuration > Entity Manager
menu. These updates are designed to give clearer, actionable insights when errors happen, enabling users to resolve issues efficiently.Character Limit Elimination in Lookup Tables:
The lookup tables previously used for reconciliation had a 254-character limit for the Turnover and Purchase accounts fields. As the number of accounts increased, this limit caused configuration issues between the reports and the lookup table for customers. We removed the character limit, allowing users to configure multiple Turnover and Purchase accounts in the lookup tables for different fields as the accounts increase.Resolved Issues in Inserting Sheets:
Users were facing trouble while inserting the sheets in the returns using the More then Insert sheets
option on the Returns
screen. This update resolves these issues and users can now insert sheets using the More
option.Information Removal Update for 'Tax Agent' and 'USERS AND USER ROLES' Sections:
The OIC Help section has been updated by removing information around Tax Agent
and USERS AND USER ROLES
sections. This update is designed to enhance clarity and improve the user experience by focusing on essential data.Resolved Import Progress Bar Issues for SFTP imports:
Resolved the display issue of the dynamic progress bar on the import details page for the SFTP imports to show the live progress percentage. Before the fix, the progress bar displayed a static percentage for the SFTP imports.Content Template Versions
VAT3ATANN15_7_64_TPL.XML
VAT3ATANN15_7_65_TPL.XML
VAT3ATANNGRP15_7_54_TPL.XML
VAT3BG13_7_155_TPL.XML
VAT3CY14_3_107_TPL.XML
VAT3CZ16_8_359_TPL.XML
VAT3CZGRP16_8_209_TPL.XML
VAT3DE15_12_259_TPL.XML
VAT3DEGRP15_12_204_TPL.XML
VAT3DEANN15_12_157_TPL.XML
VAT3DEGRPANN15_12_145_TPL.XML
VAT3DK14_5_137_TPL.XML
VAT3EL17_6_135_TPL.XML
VAT3ELGRP17_6_101_TPL.XML
VAT3FI12_4_131_TPL.XML
VAT3HR14_6_168_TPL.XML
VAT3HRGRP14_6_104_TPL.XML
VAT3ITGRP16_8_144_TPL.XML
VAT3IT16_8_210_TPL.XML
VAT3KS17_6_125_TPL.XML
VAT3KSGRP17_6_90_TPL.XML
VAT3LU15_9_307_TPL.XML
VAT3LUANN15_9_155_TPL.XML
VAT3LV18_8_129_TPL.XML
VAT3MT14_2_92_TPL.XML
VAT3PT15_10_255_TPL.XML
VAT3PTANN15_8_61_TPL.XML
VAT3PTANNGRP15_8_56_TPL.XML
VAT3PTGRP15_10_172_TPL.XML
VAT3RO16_7_419_TPL.XML
VAT3ROGRP16_7_247_TPL.XML
VAT3SK16_8_254_TPL.XML
VAT3SKGRP16_8_191_TPL.XML
VAT3SI16_4_154_TPL.XML
VAT3TR11_11_209_TPL.XML
VAT3TRGRP11_11_148_TPL.XML