Setting Up Effective Dates, Rates, and Minimum Amounts

Access the Economic Activity form.

Tax Type

Enter the tax type in this field, which is equal to the two first characters of the GL offset defined in the tax area.

City Code

Leave this field blank.

City/ Ec. Activity (city/economic activity)

Enter a values that exists in the 00/xx UDC table to specify the economic activity code. Category code 00/xx is the category code that you specify in the Category Code processing option.

Note: The system no longer uses the values in UDC 76C/AE.

Tax Rate

Enter the tax rate.

Minimum Amount

Enter the minimum value of an item that can be taxed. For example, if you enter 50, taxes are not calculated on items valued at less than 50 pesos.

This field is used for processing sales and purchase orders only.

(Release 9.2 Update) The minimum taxable amount is considered when using the tax explanation code V only, that generates VT tax lines by using the Additional Tax Calculation report (R76C0006).