Tax Determination Rules in the SuiteTax Latam Engine
In general, taxes are not applied to all the transactions in the same way. Some taxes only apply to services and others only apply to goods. Local governments can restrict some taxes to specific company types or establish special tax regimes. To allow NetSuite to identify the taxes that should be applied to a transaction, the SuiteTax Latam Engine provides the tax definition rules record. The records collect information related to the tax definition process, such as what affiliates and items are subject to tax codes, rates, and effectiveness periods. For more information, see SuiteTax Latam Engine - Colombia Records.