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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
|
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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