Parameter Types for Colombia
The SuiteTax Latam Engine - Colombia Records SuiteApp includes a parameter type to modify the Retención en la Fuente por IVA (RETEIVA) tax calculation.
To use this parameter type:
-
Associate the parameter type with a tax determination settings record.
For more information, see Creating Tax Determination Settings in the SuiteTax Latam Engine.
-
Ensure the tax determination settings are associated with a tax determination rules record that has parent tax determination rules set up to calculate Impuesto al Valor Agregado (IVA).
NetSuite must first calculate the IVA amount, to then use it as basis to calculate RETEIVA.
The following table summarizes the basic information about the predefined parameter type.
|
Parameter Type |
IVA as Tax Basis |
|
Tax Code |
RETEIVA_CO |
|
Parameter Value |
— |
|
Available For |
Tax determination rules |
For more information about parameter types in general, see Creating Parameter Types in the SuiteTax Latam Engine.