Settings for VAT-exempt Entities

If you are not an active VAT taxpayer, you will find the recommended configuration below.

Configure taxes the same as the one for VAT taxpayers above. No, it's not a mistake. The only difference is that when configuring the taxes in Standard Rates tab, enter "0" in Rate % and a name in the Tax Name.

In some countries companies taking advantage of the VAT exemption (according to the type of sale) need to list the reason for the VAT tax exemption on the invoice. The reason may be entered in the "additional notes" field that can be added to every invoice.