Viewing VAT and SUT Information
This topic discusses how to view VAT and SUT information.
Page Name |
Definition Name |
Usage |
---|---|---|
SPF_WO_VAT |
View VAT locations and defaults. VAT defaults can be edited if purchase orders are not integrated with work orders. |
|
SPF_WO_SUT |
View SUT information. SUT information can be edited if purchase orders are not integrated with work orders. |
Use the Work Order VAT page (SPF_WO_VAT) to view VAT locations and defaults.
Navigation:
Click the VAT/Intrastat button on the Work Order - Cost page.
Use this page to review the VAT that appears by default for the work order. If the VAT information needs to be updated, update it on the generated purchase order before releasing the work order. Upon releasing the work order, the purchase order VAT information is copied on the work order where it is view only.
Note: You can edit the VAT defaults only if purchase orders are not integrated with work orders.
Because complex algorithms are used to obtain the VAT defaults, avoid manually changing these values as far as possible.
Field or Control |
Description |
---|---|
Return to Services Work Order |
Click to return to the Services Work Order page. |
Expand All Sections |
Click the expand button to scroll to and access every section on the page. You can also expand one or more sections by clicking the arrow next to the section's name. |
Collapse All Sections |
Click to collapse all sections that display only the header information. If you expand one or more sections, you can click the arrow next to the section's name to collapse the section. |
Field or Control |
Description |
---|---|
Physical Nature |
Indicates whether an object is a good or a service. Many countries are required to report the sale and purchase of goods separately from services. Note: Because these are service work orders, physical nature should always be Services, and you won't need to change it. |
VAT Locations
Field or Control |
Description |
---|---|
Location Country |
Displays the PeopleSoft Purchasing business unit bill to location country. |
Location State |
Displays the PeopleSoft Purchasing business unit bill to location state. |
Supplier Location Country |
Displays the supplier's order from location country. |
Supplier Location State |
Displays the supplier's order from location state. |
Service Performed Country |
Depending on the services performed option setting in the PeopleSoft Purchasing defaulting hierarchy (for example, on the supplier or business unit), here are some ways in which the system can set the value for this field:
|
Service Performed State |
This value appears only if the service performed country requires that VAT be tracked by state or province. Depending on the services performed setting in the PeopleSoft Purchasing default hierarchy (for example, on the supplier or business unit), the system sets the following values for this field:
|
Ship From Country |
Displays the supplier's ship from location country. In the case of transactions involving goods or freight service transactions, this is used to determine the VAT treatment. |
Ship From State |
If the ship to country is defined as tracking VAT by state and province, it displays the supplier's ship from location state. In the case of transactions involving goods or freight service transactions, this is used to determine the VAT treatment. |
Ship To Country |
Displays the ship to location country. In the case of transactions involving goods or freight service transactions, this is used to determine the VAT treatment. |
Ship To State |
If the ship to country is defined as tracking VAT by state and province, the system displays the ship to location state. In the case of transactions involving goods or freight service transactions, this is used to determine the VAT treatment. |
Reviewing VAT Defaults
Use this group box to view VAT defaults. You can only update VAT defaults if purchase orders are not integrated with work orders.
Field or Control |
Description |
---|---|
Service Type |
The system displays the VAT service type of Freight or Other. The value in this field determines whether or not the special rules for freight transport within the European Union (EU) apply. |
Place of Supply Driver |
Displays the usual place of supply (the place where VAT is usually liable) for the service. This value is used to help determine the place of supply country and the VAT treatment. Values are Buyer's Countries, Supplier's Countries or Where Physically Performed. |
Reporting Country |
Displays the country for which this VAT is to be reported. This is the VAT entity and VAT registration country that determines many of the VAT defaults. |
Defaulting State |
If the reporting country requires that VAT be tracked by state or province, this field displays the state within the reporting country that is used to retrieve values from the VAT Defaults table. |
Supplier Registration Country and Supplier Registration ID |
Displays the registration country and ID of the supplier. |
Exception Type |
Displays the exception granted to the VAT entity. Values are None, Exonerated, or Suspended. This value is specified on the VAT entity registration. |
Certificate ID |
If applicable, displays the ID of the VAT exception certificate that may have been issued to the VAT entity. |
Calculate at Gross or Net |
Indicates how VAT is calculated. The default value comes from the VAT entity driver. Values are:
|
Recalculate at Payment |
Select this check box to enable the recalculation of VAT at payment time to allow for any early payment discounts, if you are calculating VAT at gross. This causes the system to adjust the VAT amount at the time of payment if the discount has been taken. This is set on the VAT entity driver. |
Declaration Point |
For a good or a service, displays when you want VAT transaction information to be recognized for reporting purposes. Values are:
This value may be set at four levels in the VAT hierarchy: VAT entity registration, purchase order options, supplier, and supplier location. |
VAT Rounding Rule |
Displays the VAT rounding rule. The default value comes from the VAT country, VAT entity registration, supplier, or supplier location driver. Values are:
|
Use Type |
Determines the split between recoverable (taxable) and nonrecoverable (nontaxable) VAT. For the Canadian public sector, the use type also determines the rebate of the nonrecoverable VAT. VAT rebates are calculated based on statutory rebate rates that are established for each public service body. The value comes from the VAT defaulting hierarchy, from the item, item business unit, item category, supplier location, supplier, or purchasing options. |
Include Freight |
If selected, the system includes any freight amounts in the VAT basis by calculating VAT on the merchandise amount, plus any freight amount. This option is only available for exclusive VAT calculation. The value comes from the VAT entity registration driver. |
Include Miscellaneous |
If selected, the system includes any miscellaneous charge amounts in the VAT basis by calculating VAT on the merchandise amount, plus any miscellaneous charge amount. This option is available only for exclusive VAT calculation. The value comes from the VAT entity registration driver. |
Place of Supply Country |
For services, displays the country in which the VAT is liable. The default value comes from a complex algorithm. |
Treatment |
Displays the VAT treatment, based on a complex algorithm. Values are:
Within PeopleSoft, detail VAT treatment values on the transaction lines are used for applying the precise defaults applicable to the transaction lines. The treatment is determined based the rules applicable to the transaction. Note: Treatments values related to goods do not apply for PeopleSoft Services Procurement. |
Applicability |
Displays the VAT status, which comes from an algorithm. Values are:
|
Record Output VAT |
Select this check box to enable entry of vouchers where VAT is not included on the invoice but is payable to the VAT authority rather than the supplier. In this case, you are accounting for both input and output VAT for the purchase. This is the case for an intra-EU acquisition or when you must account for output VAT on a service supplied by a foreign supplier. This is also referred to as self-assessing for VAT. The value comes from an algorithm that uses the treatment and applicability to retrieve the applicable value from the VAT system setup data that PeopleSoft delivers. |
VAT Code |
Displays the VAT code that defines the rate at which VAT is calculated for this line. |
Transaction Type |
Displays the code that categorizes and classifies this transaction for VAT reporting and accounting. |
Adjust/Reset VAT Defaults
Any changes that you make to fields on this page may affect VAT defaults on this page. For accuracy and consistency, use the following fields to adjust affected VAT defaults or to reset all VAT defaults. Adjusting or resetting VAT defaults only affect fields within the VAT Defaults group box.
Field or Control |
Description |
---|---|
Adjust Affected VAT Defaults |
Click this button to have the system adjust the VAT defaults that are affected by the changes. All changes that you have made to VAT defaults on this page that affect other VAT defaults on this page are retained. Click the i button to list the fields to be adjusted. Note: Always click the Adjust Affected VAT Defaults button after changing any defaults on the VAT page. |
Levels |
Enables you to specify the levels within the requisition transaction hierarchy to reset when you click the Reset All VAT Defaults button. Values are:
|
Reset All VAT Defaults |
Click to have the system reset the VAT defaults based on the levels value that you selected. Any changes that you have previously made to VAT defaults will be lost. Note: Reset completely redetermines the VAT defaults. This does not necessarily mean they are to be reset to their original values. For example, the user may not have changed any VAT default values, but if a VAT driver field has changed, then clicking Reset redetermines all defaults based on the new driver value. |
Use the Work Order Sales/Use Tax Information page (SPF_WO_SUT) to view SUT information.
Navigation:
Click the Sales/Use Tax button on the Work Order - Cost page.
Use this page to review the SUT information for the work order. If the SUT information must be updated, update it on the generated purchase order before releasing the work order. Upon releasing the work order, the purchase order SUT information is copied onto the work order where it is viewed.
Note: You can edit the SUT information only if purchase orders are not integrated with work orders.
Field or Control |
Description |
---|---|
Ultimate Use Code |
Enter an ultimate use code to override the default tax rate for a location. |
Sales/Use Tax Exception Type and SUT Excptn Cert (SUT exemption certificate) |
Defaults from the ship to location for the SUT destination. SUT exception type values include Direct Pay, Exempt/Exonerated, and None. |
Field or Control |
Description |
---|---|
Calculate SUT (calculate sales and use tax) |
Click to calculate the SUT using the changes that you made on the page. |
See Understanding PeopleSoft Tax Solutions.
Calculation Parameters
Field or Control |
Description |
---|---|
Include VAT (include value-added tax) |
This setting is relevant if each line has separate tax code values for SUT and VAT, in which case it is possible to have both on a given line resulting in a tax-on-tax situation. In these instances, the system calculates VAT, then SUT, either on the net-extended amount for the line or on the sum of the net-extended amount and VAT amount. If this option is selected, it indicates that the VAT amount needs to be taxed and the system adds the VAT amount to the net-extended amount before calculating SUT. |
Note: The Include Vat calculation parameter appears by default from the Ship To Location Sales/Tax setup page.