| Stamp taxStamp tax is a type of tax that is imposed on trade notes, and consists of a fixed amount instead of a percentage. Depending
on the country of your company, if you issue trade notes you can be obliged to
pay stamp tax on the trade note. In some countries, such as Spain and Japan, to pay the stamp
tax, you must stick a stamp on the trade note document. In other countries, to
pay the stamp tax, you must buy an official form for the trade
note. To set up stamp tax: CMG Parameters (tfcmg0100s000) On the Trade Notes tab, select the Trade Notes check box. Next, specify
the other trade notes information required in this session. Tax Code by Country (tcmcs0136s000) Specify a tax code for the stamp tax, and in the Kind of Tax field, select Stamp Tax. Posting Data for Tax Codes (tfgld0171s000) For the stamp 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.
Revenue Stamp Tax (tcmcs1131m000) Specify the stamp tax rates on trade notes applied in your
financial company's home country. You can specify the stamp tax amount as an
amount or as a percentage. 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 rates, in the Trade Note Division Method field select Revenue Stamp Tax Division. 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.
Note In a multicompany structure with a number of financial
companies in various countries, the table Division for Revenue Stamp Tax
(tcmcs132), in which this data is stored, must not be shared. | |