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Define Belgian Tax Codes

Each Belgian Tax Code is used to indicate not only the tax rate associated with a transaction but also the VAT Transaction Type for the transaction. These tax codes must be set up for each set of books.

This means that each Belgian tax code must be set up multiple times to represent the different VAT Transaction Types required.

For example:

Tax Name
Rate
VAT Trans Type
BE12-101
12
101
BE12-102
12
102
BE20.5-101
20.5
101
BE20.5-102
20.5
102
BE20.5-103
20.5
103

Tax Codes must be set up for both AR and AP if both applications are installed.

Suggestion: The Tax Name should be made up of both the Tax Rate and the VAT Transaction Type so that easy selections can be made when assigning to a transaction.

If AR is installed, a default Oracle Receivables Tax Code must be set up. The TAX Code must be N/A for Oracle Financials for Belgium to recognize it.

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