on 07-24-2014 9:57 AM
Hi Team.
Tax rates are changed for the country japan .Then user asking us to change the tax rates in existing withholding tax codes. can we change the tax rates using with existing tax codes and tax types. is it suggestible or not ? or else we need to go for new tax codes ?Please suggest on this. Thanks.
Regards,
Raj
As per my experience, it is not suggestible to change existing tax code. You may create new one for new requirement.
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Hi Raj;
if it is With holding tax codes . then you can change the rate with Validity period.
like from date to to date.
if it's Sales\Purchase tax then you have to create new one.
Regards
satish
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Hi Friends,
Thanks for your reply.
Thanks to all
Regards,
Raj
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Hi Raj,
In addition to this, also ensure that for new tax code which you are going to create, validity from date for such tax codes starts from the date on which new rate is applicable, so that user cannot use this new tax for previous periods.
Reg
Karthikeyan G
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Hi Raj,
You could deactivate the existing tax codes and create new tax codes which is suggestable
Rgds
Shashi
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Hi
You should be creating a new tax code.
Technically, you can change the tax rates in the existing tax code. But that will create issues in your with holding tax reporting for previous year and current year data.
Regards
Sanil
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HI ,
You shouldn't chnage the current one but define the new one . The logic for this is You may need the old tax code to post some Invoice may in processing stage orpending for processing with Old Tax rates.
Many Thanks
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