The "Value Added Tax (VAT) rate" is the percentage applied to the value of goods or services to calculate the Value Added Tax. In Germany, there are different VAT rates for various goods and services.
Typical features of software in the VAT rate domain could include:
VAT Rate Management: The software allows for the management of different VAT rates, including standard and reduced rates.
Automatic Calculation: Automatic calculation of VAT based on entered values such as product or service prices.
Country-Specific Rates: Consideration of different VAT rates for different countries, especially in international business activities.
Product Categories: The ability to manage and apply VAT rates based on product categories or types.
Reporting: Generation of reports on the invoiced VAT for accounting and tax purposes.
Automatic Updates: Updating of VAT rates according to legal changes or seasonal adjustments.