Welcome to generate.TAX

generate.TAX is a tax suite that seamlessly connects to your accounting software and helps accountants and finance teams with statutory tax compliance obligations. The solutions currently focus on addressing the special needs of the EMEA region.

The tool is currently in its BETA phase, which means that some interface screens are likely to change, and some functionality might be fine-tuned based on user feedback.

The following solutions are available:

• VAT return for Malta, Cyprus, Ireland, UAE and the Isle of Man

• VAT recapitulative statement / VIES check for Malta and Cyprus

• Invoice VAT Number checker

If you have any feedback or need further assistance, feel free to reach out to the support team on email [email protected].

This step-by-step guide will help you set up and configure your generate.TAX account as your trusted tax companion.

Create an account

You first need to create an account with generate.TAX to get started - you may sign up with your email address - here's how:

For additional security, we recommend setting up and enabling 2 factor authentication (2FA) when using your username and password.

You may also sign up using Single Sign On (SSO).

Connect an entity

To start using generate.TAX, follow this guide for instructions on how to connect to an entity:

Repeat the process to connect all the entities within your practice or group of companies. You can now use the solutions provided by generate.TAX on your connected entities.

⚠️ Currently, generate.TAX only supports Xero cloud accounting and Cin7 Core Inventory. We are currently working on supporting Quickbooks Online. Additional cloud accounting software will be added to this list.

Invite a user

An organisation connected to generate.TAX may be shared with other users including your team or client. Various user specific permissions allow further control on what and with whom the  information can be shared.

This section explains how to invite a new user, manage users and assign permissions.

Using the VAT return

generate.TAX addresses the gap in cloud accounting software by providing a solution for generating VAT returns when a local option is not available. We retrieve data from your accounting software and use your tax rate mapping to extract and organize all transactions into the appropriate tax return boxes.

Map your tax rates

The tax return is generated based on the tax rates in your accounting software. To ensure smooth operation, you need to perform a one-time exercise to map the existing tax rates in your accounting software to the appropriate boxes in the VAT return. Additionally, we gather other critical information to help you stay on top of VAT return deadlines.

Here's how:

Generate and view submissions

Once the mapping is completed, you may begin the process of generating the VAT returns for your country. A return can be refreshed, saved, locked, and eventually submitted to the authorities (functionality varies depending on the country). A full activity report with notes is available for each created return.

Here are some guides on the different steps:

Using the VAT recapitulative statement

You must complete a recapitulative statement to report your sales to customers in other EU countries. The requirement to file a recapitulative statement is part of the VAT control system within the EU, which monitors commercial operations involving goods and services.

The statement must be filed

• When you have sold goods, i.e. carried out an intra-Community supply, and transferred your own goods in such a way that it is treatable as an intra-Community supply

• When you have been the second seller in a triangulation scheme

• When you have sold services in a VAT scheme where the buyer must pay VAT in another EU country

Map your goods and services

In order for generate.TAX to create the VIES recap statement, the tax rates used for goods, services and triangular trade needs to be mapped.

Generate the VIES recap statement

Once the mapping is completed, you may generate the statement. A VAT number VIES check will be carried out on suppliers indicating whether or not each supplier has provided  a valid EU VAT number. The VAT number will also be extracted from the accounting software and so it is important that this information is obtained and maintained in your accounting software.

Here are the steps to map, view, and export the VIES recapitulative statement:

VAT Number Checker

A powerful solution for ensuring the accuracy and validity of customer and supplier VAT numbers stored within your accounting software. This feature goes beyond simple validation by providing a certification process that verifies the live status of VAT numbers.

Here are the steps how to activate, edit and filter the VAT number checker: