VAT Codes

This page is accessed via Financials > Taxes > VAT Code.

VAT codes specify how much value added tax (VAT) is to be applied to an invoice or bill, and where the tax is applicable. A VAT rate is the percentage of VAT that applies to an invoice or bill. VAT rates can be applied only to transportation-related services, not to goods. VAT rates vary by country and by province (Provincial VAT).

When the Cumulative check box is selected, Oracle Transportation Management calculates tax by including previously calculated tax as taxable.

Use the Provincial check box to indicate if the tax is national or provincial. If it is not checked, then the tax applies to the entire country. If it is checked, then the tax only applies to the province defined. When checked, a field appears next to the Country Code field. Enter the Province Code that the tax applies to in that field.

Enter the Country Code that the VAT applies to. This field uses the three-digit ISO 3166 country codes.

The Rate is the percentage that is added as a value added tax. It can be a number from 0 to 100 and can include decimals.

Use the Effective and Expiration Date fields to define when the VAT rate for that country is valid.

For European VAT, you can optionally use the Foreign VAT Code Override field to specify a VAT Code that should be used as an override for a particular VAT Outcome.