Tax defaulting overview
This topic provides an overview of the enablement and optimization of tax configuration
for tax defaulting for various taxable transactions.
The current tax defaulting configuration consists of multiple tax libraries which provide options to configure standard and exception-based tax defaulting.
To enable the tax defaulting, the following processes must be executed:
- define goods and service categories based on several Infor LN attributes such as Items, Item Groups etc
- enable exception by tax country and exceptions by country set to allow configuration by state/province and goods and service categories.
- enable exceptions libraries to configure and return for defaulting the own and BP state/province.
- This improved tax defaulting functionality allows you to:
- configure parameters based on goods and service category.
- configure interstate and intrastate tax codes.
- improve standard tax defaulting when using multiple registration numbers in a financial company.