AU0 - Prepayment Made for Import

VAT Accounts

This section contains information that is specific to Slovenia. Most likely it is less relevant in other countries.

Foreign currency prepayments were used only for quarterly reports to the Bank of Slovenia. Foreign currency prepayments are not taxed (exports aren't taxed; imports aren't taxed when it comes to the prepayment, but when it comes the tax account and customs duty) and therefore they aren't posted. Inflows/outflows regarding such prepayments are posted with bank reconciliation; they are closed with the relevant payable/receivable using the Close Prepayment function.

The only case when VAT is included in a prepayment is when making a prepayment to a non-resident, where the tax is indicated and included (under the principle of tax self-assessment).