To set up stamp tax

To set up stamp tax

To set up stamp tax on trade notes, use the following sequence of sessions:

1. CMG Parameters (tfcmg0100s000)
   On the Trade Notes tab, select the Trade Notes check box. Then enter the other trade notes information required in this session.
2. Tax Codes by Country (tcmcs0136s000)
   Define a tax code for the stamp tax and in the Kind of Tax field, select Stamp Tax.
3. Posting Data for Tax Codes (tfgld0171s000)

   For the stamp tax tax code, select the following ledger accounts:

   • Accrued Stamp Tax Account
   • Purchase Tax, which is renamed to Stamp Tax if the kind of tax is Stamp Tax.
4. Revenue Stamp Tax (tcmcs1131m000)
   Define the stamp tax tariffs on trade notes applied in your financial company's home country. You can enter the stamp tax amount as an amount or as a percentage.
5. Pay-by Business Partner (tccom4114s000) and Pay-to Business Partner (tccom4124s000)
   If you wish to generate trade notes for the business partner based on the stamp tax tariffs, in the Trade Note Division Method field select Revenue Stamp Tax Division.
6. Division for Revenue Stamp Tax (tcmcs1132m000)
   If for some or all of your pay-to and pay-by business partners you have selected the Revenue Stamp Tax Division trade note division method described in Step 5, use this session to define the division data.