VAT transactions in TaxStreem
At its core, Flux is designed to help you submit VAT filings for transactions between two parties. The options in the single-filing and batch-filing API calls help ensure that the VAT treatment is correct. Specifically, TaxStreem determines the following key questions when processing a VAT filing:
- What is the VAT status of the supply? (VATtable, zero-rated, or exempt)
- What is the nature of the transaction — sale or purchase?
- Has payment been confirmed? (Only paid transactions qualify for VAT computation)
With this understanding, the rest of this section describes all the information you need to gather to produce accurate, reliable VAT filings. It shows you how to create basic filing requests, the fields required in each transaction, and the difference between single and batch submissions.
Transaction types
| Field | Type | Description |
|---|---|---|
| credit* | enum | A sale — generates Output VAT. Filed on behalf of the business collecting VAT from customers. |
| debit* | enum | A purchase — generates Input VAT. Filed for vendor invoices paid by the business. |
Filing period
Each filing is associated with a month and year. TaxStreem will validate that the filing period is not already submitted for the entity. The month field is an integer 1–12 and year is a 4-digit integer.