Trần Lê Hà Anh Foreign Trade Published: 5/28/21 Hits: 1,394

This article shall show you how to quickly, easily configure import/ export taxes for enterprises with the Foreign Trade application of Odoo/ ERPOnline. 

Step 1: Access module “Foreign Trade” >> Select menu “Configuration” >> “Settings” >> Select “Create”.

Step 2: The Tax configuration form shall show up like the picture below. 

Fill in the compulsory fields, denoted in the color light purple. These files include:

  • Tax name: Fill in tax name. E.g: Import tax 20%.

  • Tax scope: Choose the tax scope to be applied. 

E.g: Choose tax scope to be “Purchases” since you are creating import tax. If you are configuring export tax, simply switch the tax scope to be “Sales”.

  • Tax computation: there are 4 options to choose from.

Move the mouse pointer to the “Tax computation” field to see a more comprehensive explanation of each option. 

  • Amount: the “Amount” field will change accordingly to the “Tax computation” field. It is denoted in amount if you choose “Fixed” in “Tax computation”, denoted as a percentage (%) if you choose “Percentage of price” or “Percentage of price tax included”, or do not show up if you choose “Group of taxes”

Step 3: Tick the “Active” checkbox if you want to use this tax, untick when you want to hide the tax but don’t want to delete it. 

Step 4: In the “Definition” tab, choose the account you want to post your import tax entries.

Step 5: In the “Advanced Options”, there are 3 fields suggested to be filled, including:

  • Label on Invoices: fill in how you want the tax to appear on the invoice 

  • Tax group: used to group, classify types of “Taxes”

  • Affect Base of Subsequent taxes: tick the checkbox if you want this tax will be used as the base for subsequent Taxes on imported/exported goods.
    E.g: When importing goods, Vietnamese enterprises have to pay: Import tax, Excise tax, Import VAT. These taxes will be calculated in the following order: Import Tax >> Excise Tax >> Import VAT.
    Thus, when configuring Import tax, Excise tax, you must tick the checkbox "Impact Next Taxable Value" to serve as the basis for the calculation of subsequent taxes.

Upon finishing, click “Save” to save all the changes you have made so far.

Step 6: Set up “Value Added Tax” on imported goods by following the same steps, however, note these differences. 

  • Choose journal entry to post VAT and its counterpart account for deductible VAT

  • Tax group now is VAT 10%, “Is VAT” checkbox will automatically be checked once you choose this group.

  • Untick the “Affect base of subsequent taxes” checkbox because you don’t want to use this tax as the base for any other taxes.

Refer to the picture below for more details.

We have completed configuring import and export taxes for enterprises with the Foreign Trade application of Odoo/ ERPOnline. Next, let's learn how to apply import and export taxes for products in Odoo/ ERPOnline through the article below.