1. Localizations for Venezuela Implementation Guide
  2. Calculating Municipal Tax

Calculating Municipal Tax

Run the IM Withholding Calculation program (R76V4590A) to calculate the withholding for municipal taxes.

When you run the IM Withholding Calculation program, the system:

  • Accumulates the taxable amounts by document or by supplier and by withholding concept, depending on the processing option values, and by withholding codes and currency.

  • Calculates the basis amount according to the values that you set up in the IM Withholding Setup program (P76V4025) for municipal taxes.

  • Calculates in the local currency the withholding amount according to the rate.

    If related documents are in a foreign currency, the system makes the currency conversion at the rate that is in effect on the date that is specified in the processing options.

  • Changes the payment status to the status specified in the processing options.

  • Generates a report that lists the processed vouchers, the withholding documents, and the batch.