(VEN) Setting Up Country-Specific Functionality for Venezuela

This section provides an overview of address book information for Venezuela and discusses how to:

• Set up user-defined codes (UDCs) for Venezuela.

• Set up next numbers.

• Set up corresponding versions of programs.

• Set up withholding information for Impuesto sobre la Renta (ISLR) taxes.

• Set up withholding information for municipal taxes.

• Set up withholding information for value-added tax (VAT).

Understanding Venezuelan Address Book Information

When entering address book records for Venezuela , you must enter the R.I.F (Fiscal Information Register) number in the Tax ID field on the Address Book Revision form and enter the N.I.T (Número de Identificación Tributaria ) number in the Add'l Ind Tax ID field on the same form. When you enter the R.I.F number, do not enter any spaces or special characters.

When you click OK on the Address Book Revision form, the system displays the A/B Additional Information form. Use this form to enter the ISLR, IM (municipal taxes), and VAT concepts for suppliers. The system uses the values that you enter when calculating supplier withholding taxes.

See Also

(VEN) Entering Additional Address Book Information

Setting Up UDCs for Venezuela

Setting up Venezuela-specific UDCs enables you to use Venezuela-specific functionality. You also set up some base software UDCs with Venezuela-specific values.

Set up UDCs for:

• Accounts payable processing

• Supplier withholding processing

Setting Up UDCs for Accounts Payable for Venezuela

Before processing vouchers and accounts payable taxes, set up these UDCs.

Document Type (00/DT and (00/DV)

Vouchers for imported goods must be entered using a document type that you set up in the Document Type – All Documents (00/DT) and Document Type - Vouchers Only (00/DV) UDC tables specifically for these transactions.

Payment Status Codes (00/PS)

Set up a payment status code to use to indicate when vouchers are ready for the calculation of ISLR, IM, and VAT withholding taxes.

Group Type (74/DG)

Set up this UDC table with document types that the system uses when processing vouchers for Venezuela. You must set up one or more document types that identify vouchers, and complete the Special Handling Code field with 01 for these document types. Set up one or more document types that identify debit notes and complete the Special Handling Code field with 02 for these document types. Set up one or more document types that identify credit notes and complete the Special Handling Code field with 03 for these document types.

Invoice Document Type (76V/FC)

Use this UDC table to set up document types that you assign to invoices or vouchers.

Exportation Document Types (76V/EP)

Use this UDC table to set up document types that you assign to exported goods.

Importation Document Type (76V/IP)

Use this UDC table to set up document types that you assign to imported goods.

Credit Note Document Types (76V/NC)

Use this UDC table to set up the document types that you assign to credit notes. The system uses the values in this UDC table when you calculate withholding and when you run the Purchasing Book (R76VLC01) and the Sales Book (R76VLV01) programs.

Debit Note Document Types (76V/ND)

Use this UDC table to set up the document types that you assign to debit notes. The system uses the values in this UDC when you calculate withholding and when you run the Purchasing Book and Sales Book programs.

VAT Withholding Concept VE (76V/IV)

Use this UDC table to set up the VAT withholding types that the system uses when you process VAT withholding.

Setting Up UDCs for Supplier Withholding for Venezuela

Set up these UDCs prior to processing supplier withholding.

Fee Codes (76V/CT)

Enter values in this UDC table to identify fee codes for ISLR withholding.

I.M. Withholding Concept (76V/IM)

Enter values in this UDC table to identify types of municipal tax withholding. You use these values when you enter information about municipal tax withholdings in the IM Withholding Setup (P76V4025) program.

ISLR Withholding Concept (76V/IS)

Enter values in this UDC table to identify types of ISLR tax withholding. You use these values when you enter information about income tax withholdings in the ISLR Withholding Percentages (P76V4020) program.

VAT Withholding Concept VE (76V/IV)

Enter values in this UDC table to identify types of VAT withholding.

VAT Legal Concept (76V/LC)

Enter values in this UDC table to identify the types of VAT withholding. You use these values when you enter information about VAT withholding in the VAT Withholding Setup (P76V4030) program.

Setting Up Next Numbers for Venezuela

You must set up next numbers for system 76V (Venezuela) to process withholding for income taxes (Impuesto sobre la Renta [ISLR]) and municipal taxes. If the company constants are set to do so, the system first determines if there is a next numbering scheme set up for the company by fiscal year.

Set up the first record for ISLR taxes. The system uses this set of next numbers to assign a new number to the withholding document for ISLR withholding when the next numbers are not set up by company and fiscal year.

Set up the second record for municipal taxes. The system uses this set of next numbers to assign a new number to the withholding document for municipal withholding when the next numbers are not set up by company and fiscal year.

Set up the third and fourth records to add a next number to the VINV field in the F0411 table so that you can relate the withholding documents to the invoice when you calculate withholding. You set up the third and fourth records using different document types. Setting up these next numbers enables you to calculate records multiple times when the withholding record is voided.

Set up the fifth record for VAT taxes. The system uses this set of next numbers to assign a new number to the withholding document for VAT withholding when the next numbers are not set up by company and fiscal year.

Setting Up Corresponding Versions of Programs

Some country-specific functionality requires that you create versions of the same name for a country-specific programs and a base software program. For example, to have the system access the processing options for a country-specific voucher program, you might need to set up a version named XYZ for the country-specific voucher program, and a version named XYZ of the Standard Voucher Entry (P0411) program.

Set up corresponding versions for these programs:

Setting Up Withholding for ISLR Taxes for Venezuela

This section provides an overview of the setup for income taxes (ISLR), lists prerequisites, and discusses how to:

• Enter withholding amount information.

• Enter tributary unit information.

Understanding Setup for ISLR Taxes

The system calculates the withholding amounts for income taxes for suppliers when you run the ISLR Withholding Calculation v (R76V4580A). Before you run the ISLR Withholding Calculation program, you must enter the information that the system uses in the calculations.

Tributary Units

A tributary unit is a measurement variable that automatically adjusts the income brackets used to establish the marginal income tax rate for personal and business income taxes. The Venezuelan government requires that the tributary unit used after the re-denomination of the currency in 2008 have three decimal places instead of two decimal places.

Use the Tributary Unit Setup (P76V410) program to set up tributary unit information for ISLR. The Tributary Unit Setup program enables you to enter for each company the effective dates and amounts. The system saves the values that you enter to the Tributary Unit Setup table (F76V410). Use the Work With Tributary Unit form to view the information in this table.

Withholding Types and Percentages

Use the ISLR Withholding Percentages program (P76V4020) to enter information about withholding types, percentages, and effective dates for the ISLR. withholding. The ISLR Withholding Percentages program enables you to set up by each company:

• ISLR withholding concept.

• ISLR fee code type.

• Minimum and maximum amounts on which the withholding amount is based.

• Percentage of the amount subject to withholding.

• Withholding percentage.

• ICMS reduced tax amount.

• Effective dates.

The system saves the information that you enter to the ISLR Withholdings Setup - VEN table (F76V4020). Use the Work With ISLR Withholdings Setup form to view the information in this table.

Prerequisites

Before you perform the tasks in this section:

• Verify that next numbers for withholding are set up for system 76V (Venezuela).

• Verify that appropriate values exist in the ISLR Withholding Concept (76V/IS) and Fee Codes (76V/CT) UDC tables.

Forms Used to Enter Withholding Information for Income Taxes

Entering Withholding Amount Information

Access the ISLR Withholding Setup form. You must complete all fields on the form.

ISLR Withholding Concept	Enter a value from the ISLR Withholding Concept (76V/IS) UDC table to identify the type of tax.
ISLR Fee Code	Enter a value from the Fee Codes (76V/CT) UDC table to identify the type of fee.
Minimum Amount	Enter 0 to indicate the minimum amount on which the tax is calculated.
Maximum Amount	Enter the maximum amount on which the tax is calculated. To specify an infinite amount, enter 999.999.999.99. Enter the amount after converting it to tributary units.
Percent Amount Subject to Withholding	Enter the percentage of the amount that is subject to withholding. For example, if the entire amount is subject to withholding, enter 100.
Withholding Percentage	Enter the amount by which the system multiplies the amount subject to withholding to determine the amount to withhold.
ICMS Reduced Taxable Amount	Enter the amount on which ICMS taxes are assessed.

Entering Tributary Unit Information

Access the Tributary Unit Setup form.

Company	Enter the company for which you set up the tributary unit.
Effective Date From	Enter the beginning of the date range for which you set up the tributary unit.
Effective Date Thru	Enter the end of the date range for which you set up the tributary unit.
Tributary Unit Value	Enter the tributary unit value that the system uses when calculating ISLR withholding.

Setting Up Withholding for Municipal Taxes for Venezuela

This section provides an overview of the setup for municipal taxes, lists prerequisites, and discusses how to enter withholding information for municipal taxes.

Understanding Setup for Municipal Taxes

Use the IM Withholding Setup program (P76V4025) to set up information for the withholding of municipal taxes (IM). The IM Withholding Setup program enables you to set up for each supplier:

• IM withholding concept.

• Minimum and maximum amounts for which to apply the withholding.

• Percentage of the amount subject to withholding.

• Withholding percentage.

• Effective dates.

The system saves the information that you enter to the IM Withholdings Setup table (F76V4025). Access the Work with IM Withholdings Setup form to view the information in this table.

Prerequisites

Before you perform the tasks in this section:

• Verify that next numbers for withholding are set up for system 76V (Venezuela).

• Verify that appropriate values exist in the I.M. Withholding Concept (76V/IM) UDC table.

Forms Used to Enter Withholding Information for Municipal Taxes

Entering Withholding Information for Municipal Taxes

Access the IM Withholdings Setup form. You must complete all fields on this form.

IM Concept	Enter a value from the Withholding Concept (76V/IM) UDC table to identify the type of tax.
Minimum Amount	Enter 0 to indicate the minimum amount on which the tax is calculated.
Maximum Amount	Enter the maximum amount on which the tax is calculated. To specify an infinite amount, enter 999.999.999.99.
Percentage Amount Subject to Withhold	Enter the percentage of the amount that is subject to withholding. For example, if the entire amount is subject to withholding, enter 100.
Withholding Percentage	Enter the amount by which the system multiplies the amount subject to withholding to determine the amount to withhold.

Setting Up Withholding Information for VAT for Venezuela

This section provides an overview of the set up for VAT, lists a prerequisite, and discusses how to set up withholding for VAT.

Understanding Setup for VAT

The system calculates VAT withholding when you run the VAT Withholdings Calculations program (R76V04570). Before you process vouchers, you must set up the system with the information that the system uses in the calculations.

Use the VAT Withholding Setup program (P76V4030) to enter the VAT withholding concept, effective dates, and withholding percentages that the system uses to calculate VAT. The system saves the values that you enter in the VAT Withholding Setup program to the VAT Withholdings Setup - VEN table (F76V4030), and reads the F76V4030 table when you run the VAT Withholdings Calculations program.

Prerequisite

Verify that appropriate values exist in the VAT Legal Concept (76V/LC) UDC table.

Forms Used to Setup Withholding Information for VAT

Entering Withholding Information for VAT

Access the VAT Withholding Percentages form. You must complete all fields on this form.