on 04-16-2014 8:58 AM
Hi Gurus,
We have a requirement for VAT code creation for Poland for below scenario.
For vendor Invoice value - 123/-
1. One value with 23 percent rate- 50 and corresponding to it 11,5 amount for VAT- together 61,5.
2. Second value on 61.5 which should have tax rate free of VAT.
Please share your inputs to meet the requirement
Thanks in advance
Please elaberate your requirement clearly..
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Hi,
For this tax codes, the system will consider the total item value or total transaction values as a base amount and calculate the tax. It will not consider as part of the item or header values.
If you want to use the base amount as per your requirement use WHT and assign it to vendor or customer.
Hi,
Create one Tax code and type in WHT settings and define base amount for the tax like 50% or 60% of the transaction values. Then define actual tax percentage to be calculated on the base amount in the transaction level.
Once you created all the settings then assign this tax codes and types to in master data of vendor or customer.
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