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.