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Working with Tax Authorities
Tax Authorities represent government bodies that collect Tax and/or issue Tax refunds. In the UK a Tax Authority would be Her Majesty’s Revenue and Customs or HMRC, which also deals with Value Added Tax (VAT).
In the US, Tax Authorities would represent Tax Agencies to which companies pay their Sales Tax. Unlike the UK there may be a number of Tax Agencies rather than a single government body.
Because you can make or receive payments to a Tax Authority (e.g. VAT payment or reclaim), it is treated very much like a Supplier.
If you are in the UK, we have already included HMRC as a Tax Authority. From this Tax Authority you can:
- Create and File VAT Returns
- Pay VAT Bills
- Receive VAT Refunds
- Make arbitrary payments to HMRC
- Receive arbitrary payments from HMRC
- View your VAT account
- Create contacts
For more information on HMRC see Working with HMRC (UK Specific).