Manage VAT Codes/Rates

As part of the base installation, the data below will be seeded into the VAT tables in Merchandising if you are configured to run in Simple VAT mode or Global Tax (see "Install Options"). One VAT region will be added (1000 - VAT Region 1000), which will be assigned as the default VAT region. Four VAT codes will also be created with one rate record added using the date of the install as the active date as shown below. Before you add hierarchies, suppliers, locations, or items, you'll want to refine this data based on your tax requirements. For more details on how to do this configuration of regions, codes, and rates, see the Oracle Retail Merchandising Finance User Guide section for Manage Financial Administration Data.

VAT Code	Description	Rates
S	Standard	10.00
E	Exempt
C	Composite
Z	Zero

For more information on Global Tax and its use of tax codes, see the Merchandising Global Tax Overview white paper.