Change Your Tax Rate

Change the tax rate that you apply on all new sales orders.

Assume your local taxing authority changes their tax rate from 6% to 6.5%, starting on October 9, 2020.

If the Ordered Date on the sales order happens.

• Before October 9, 2020, use the 6% rate.

• On or after October 9, 2020, use the 6.5% rate.

Assume you currently use a Tax Classification Code named A-RATE. You want to continue to use A-RATE but change its percentage from 6 to 6.5.

Try it.

1. Go to the Setup and Maintenance work area, then go to the task.

   • Offering: Financials

   • Functional Area: Transaction Tax

   • Task: Manage Tax Rates and Tax Recovery Rates

2. On the Manage Tax Rates and Tax Recovery Rates page, search for the value.

   Attribute	Value
   Tax Regime Code	VISION_TAX_REGIME
   Tax	A-TAX
   Tax Jurisdiction Code	Is Blank
   Tax Rate Code	A-RATE

   To get the values you need to search on, click Actions > Export to Excel. In Excel, locate your tax classification code in the Tax Rate Code column, then use values in the row that contains your tax classification code.

3. In the search results, click the value.

   Attribute	Value
   Tax Rate Code	A-RATE

4. On the Tax Rate page, in the Rate Periods area, notice the values.

   Attribute	Value
   Rate Percentage	6
   Effective Start Date	31/01/20/ where 31 is the day 01 is the month 20 is the year

   This is the rate that's currently in effect. You will change it to 6.5.

5. Click Edit.

6. On the Edit Tax Rate page, in the Rate Periods area, set the values.

   Attribute	Value
   Rate Percentage	6
   Effective End Date	8/10/20

7. Click Add Row, then set the values.

   Attribute	Value
   Rate Percentage	6.5
   Effective Start Date	9/10/20

8. Verify your rates, then click Save.

   Rate Percentage	Effective Start Date	Effective End Date
   6.5	9/10/20	Empty
   6	31/01/20/	8/10/20