Microsoft Dynamics NAV (formerly NAVISION) includes features and capabilities that are specifically conceived for the Countries and Regions where it’s sold. The 46 localizations make it suitable for companies with foreign branches and peculiar tax systems.
Here is how Dynamics Consult and Microsoft implement the characteristics of the Italian tax system in Dynamics NAV:
Italian localisation of Microsoft Dynamics NAV:
- “Fiscal Books”: the localisation adds monthly VAT registres, monthly and yearly settlement, general journal and accounting boards.
- Fiscal Year Closing Procedures: the localisation has a semi-automatic system that allows to fulfil any end-of-year accounting duty related to accounting closure, with automated recording of profit / loss, closing and reopening of balance sheets.
- Annual and periodical VAT settlement: the localisation allows to calculate the annual and periodical settlement of VAT.
- Tax LIFO: localisation allows to fulfil tax requirements in terms of inventory evaluation.
- Riba, RID and SEPA bank transfers: the localisation allows to send flows related to cash in (Riba and RID) and out (SEPA) in compliance with the technical requirements set in SEPA trackings.
- Withholding taxes and certifications: localisation allows to manage receivers with calculation of withholding taxes and sending of end-of-year certifications.
- Assets: the localisation allows to manage assets in all their civilistic aspects with the integration with general accounting, purchases and sales. Specifically, you can amortise assets with custom rates according to law requirements.
- Multi-rate payment options (ie 30-60-90): with localization, you can manage different expiry dates for each document.
- Plafond: the localisation allows to be compliant with the VAT plafond regulation.
- Intrastat: the localisation allows to fulfil the regulation regarding purchases and sales within the European Union (INTRASTAT). The INTRASTAT can be calculated for both goods and services in monthly or three-monthly periods. Microsoft Dynamics NAV can also generate the SCAMBI.CEE file that is to be sent to the Italian Agency of Revenue (Agenzia delle Entrate).
- Black list: the localisation allows to manage the declaration about revenues related to purchases and sales towards companies that have legal residence or domicile in a Country or region in Black List, to be sent to the Agenzia delle Entrate.
- Spesometro: the localisation permits to fulfill the obligation to provide the Agenzia delle Entrate with the so-called “Spesometro”, ie the Register of income and expenses with all VAT-related operations.
Dynamics (Additional Moduli):
- Split Payments: with the Dynamics Consult solution, you can manage VAT related topics when issuing sales invoices to the Public Administration. The latest “Legge di Stabilità” (Italian cumulative tax law that regulates the economy of the country) introduces art.17-ter of DPR 633/1972, which contains several new information on VAT treatment in the context of transactions carried out with regard to Public Administration.
Starting from 01/01/15, regarding goods and services sales invoices, VAT payment will no longer be held by the seller, it will be held directly by the buyer instead.
- Electronic invoice to Pubblica Amministrazione (PA): the Dynamics Consult solution allows to issue invoices in a digital format to the public administration, as required by current regulatory obligations. Indeed, starting from March 31, 2015 the Public Administration no longer accepts paper invoices. The obligation involves all local and central PAs.
- Certificazione Unica (CU): CU is a fiscal document that demonstrates the perception of an income by a taxpayer (be it an employee or a freelance). The CU has replaced the old CUD model in 2015, and it should be handed by the company to the employee or freelance worker within the first quarter of the year, then it should be submitted electronically to the Agenzia delle Entrate.