Tax Code

The display order of this field depends on the tax system. The tax code defined by you as the rate tax code always displays above the tax code defined as the exempt tax code.

If the tax system is an area-based tax system, the Tax Code field represents the rate tax code and displays above the Tax Item Code field, representing the exempt tax code. If the tax system is an item-based tax system, the Tax Item Code field now represents the rate tax code, and displays above the Tax Code field, now representing the exempt tax code.

This field represents the Tax Code Label (1) field as the Rate Tax Code and the Tax Code Item Label (1) as the Exempt Tax Code.

This tax code determines the tax amount by multiplying the rate of this tax code by the tax basis on this distribution.