Setting up Additional Tax Information for Portugal

Access the Additional Tax Information-Portugal form.

Tax Rate/Area

The system displays the code that identifies a tax or geographic area that has common tax rates and tax authorities. The system validates the tax rate/area code you enter against the Tax Areas table (F4008). The system uses the tax rate area in conjunction with the tax explanation code and tax rules to calculate tax and G/L distribution amounts when you create an invoice or voucher.

Expiration Date

The system displays the date when a transaction, contract, obligation, preference, or policy rule ceases to be in effect.

Item Number

This number identifies either a group of items or a single item. Items that are assessed VAT generally use the group code number. Items that are assessed a luxury tax generally use a specific item number.

Note: Only sales order and purchase order processing use this field. You can suppress this field with processing options.

Tax Exempt

Select tax exempt to indicate that the tax rate/area is tax exempted. If you select tax exempt, tax exemption reason must be provided.

Tax Exemption Reason

Enter a value that exists in the 74L/ER UDC table to specify the tax exemption reason associated with the tax rate/area. You need to enter the tax exemption reason if the tax rate/area is marked as tax exempt.

Tax Type

Enter a value that exists in 74L/TT UDC table to specify the tax type. Tax Type is categorization of a tax.

Stamp Duty

If the Tax Type is IS (Stamp Duty), then enter the stamp duty in this field. This field is enabled only when the tax type is IS. The SAFT report includes the tax amount if the tax type is IS, otherwise it includes the tax percentage.

Tax Country Region

Enter a value that exists in 74L/TR UDC table to specify the classified tax region of the country.

Tax Code

Enter a value that exists in 74L/TC UDC table to specify the tax code as required by Portuguese tax authorities.