The country in which the tax must be paid and/or reported. The tax country can be different from the country where the goods are issued or delivered.
Tax Codes by Country (tcmcs0536m000)Use this session to list the tax codes linked to the country shown at the top of the session. You can maintain the tax code details in the Tax Codes by Country (tcmcs0136s000) session. Note If you have started this session by zooming, you can only find and select a record.
Country The country in which the tax must be paid and/or reported. The tax country can be different from the country where the goods are issued or delivered. Tax Code A code that identifies the tax rate and which determines how LN calculates and registers tax amounts. Approved If this check box is selected, LN uses the tax codes to calculate and report tax amounts for transactions that have the group tax code. To approve a group tax code, select the tax code and on the appropriate menu, click Approve. Caution! Once you have approved the group tax code, you cannot unapprove it or change its data. Note If you have shared the Tax Code by Country (tcmcs036) table across your financial companies, but did not share the Posting Data for Single Tax Codes (tfgld071) table, to approve this tax code you must specify ledger accounts per tax code in all financial companies. Example: Tcmcs036 is shared between financial companies 100 and 200, but tfgld071 is not shared between these companies. Financial company 100 is based in the Netherlands, while financial company 200 is based in the United States. Tcmcs036 will contain tax codes for the Netherlands and for the United States. To approve a Dutch tax code, posting data for this tax code must be specified in financial company 100, but also in financial company 200. Group Tax If this check box is selected, the tax code is a group tax code. Kind of Tax The kind of tax for which the tax code is defined. For details, refer to Kinds of tax Tax Type Indicates when the tax obligation arises. For details, refer to VAT Type. Singular Tax If this check box is selected, the tax code refers to a single tax percentage. One tax amount is calculated on the basis of one percentage and posted to one Tax ledger account in the Financials package. You define the ledger accounts and dimensions for singular tax codes in the Posting Data for Single Tax Codes (tfgld0571m000) session in Financials. If this check box is cleared, the tax code refers to a multiple tax percentage. Several lines can be defined which together constitute the total tax amount. Each tax line can be posted to a separate tax ledger account in the Financials package. You define the ledger accounts and dimensions for multiple tax codes in the Posting Data for Multiple Tax Codes (tfgld0570m000) session in Financials.
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