Tax Recovery Rates Controls and Defaults

Define tax recovery rates to claim full or partial recovery of taxes paid. Set up tax recovery rate codes for the recovery types identified on the taxes within a tax regime.

A tax recovery rate code identifies the percentage of recovery designated by the tax authority for a specific transaction.

Defining Controls and Defaults for Tax Recovery Rates

The following table describes the defaults and controls available at the tax recovery rate level.

Recovery Rate Periods Region

Field	Description	Default Derived from	Default Appears on	Controls
Set as Default Rate	Controls whether this tax recovery rate is the default recovery rate for this tax at transaction time	None	None	When you select this option, the recovery tax rate is the default rate for the period specified. When there are no tax recovery rate rules applicable at transaction time, the tax determination process selects this tax recovery rate.