Common

Multiple tax registrations - tax currency

The Registration by Tax Country functionality has been extended. This enables a legal entity that operates in multiple countries to handle country-specific taxes in a single financial company.

Previously, tax reporting in a currency other than the home currency of the financial company was not supported. Now, tax reporting can be handled in currencies other than the home currency and several countries can be included in a financial company.

These features are supported:

• Specification of the tax reporting currency and exchange rate type in the Tax Parameters by Country (tctax0101m000) session.
• Specification of the currency rates for tax reporting in the Tax Currency Rates (tcmcs0108m100) session.
• Availability of tax currency rates and amounts in these areas:
  • Invoicing (billable lines, invoice - tax details)
  • Financials (tax details, tax analysis)
• Enablement of tax reporting in the tax currency for these documents:
  • Tax Declaration
  • Intrastat
  • Sales Listing
  • Purchase Listing

Tax configuration enhancements

The configuration to retrieve tax defaults for various taxable transactions has been improved. This functionality was initially required for India, but has been added to the standard for general use.

In the Tax Exceptions by Country and Tax Exceptions by Country Set sessions, tax defaulting has been improved and these functions have been added:

• Jurisdiction to Use (Own and Business Partner): Instead of specifying the tax country through exception modeling, you can now specify the address, such as buy-from, sold-to, and department, from which the tax country can be derived.
• Tax Code to Use: Instead of specifying a tax code on exceptions, you can now specify the tax code to use. For example, Domestic, ICT, Import, Export, which is specified in the standard tax handling library.

Extended tax configuration can be activated in the Concept Activation workbench. With extended tax configuration, these additional features are supported:

• Tax defaulting for interstate and intrastate transactions (India).
• Optimization of tax defaulting based on goods and service categories.
• Standard tax defaulting improvements.
  • Default setup of a goods and service category and state.
  • Advance invoice defaulting based on a standard tax library.
• Improvements for Tax Exceptions by Country and Tax Exceptions by Country Set.
  • Default setup of a goods and service category and state.

The new Goods and Service Category has these functions:

• Categorize the goods and service for tax purposes
• Map to these attributes:
  • Item
  • Item Group
  • HS Code
  • Service / Contract Type
  • Coverage Type
• Retrieve tax defaults in:
  • Tax Handling
  • Tax Exceptions by Country
  • Tax Exceptions by Country Set

Infor Customs Export Control (ZWF)

International restrictions and security policies regarding the sale and shipment of goods demand a complex and safe export control process for every company. To integrate export control checks in LN CE processes, Export Control has been added to the ZWF AG Customs Module (tzzfc) of ZWF AG Shipment and Customs. Export Control provides automatic checks of trade transactions.

Export control checks in LN CE, for example in the sales order approval process, allow users to check orders against a customizable set of rules. In this ruleset, which is based on countries and items, all restrictions of governments, national agencies, and international agencies can be maintained.

If the predefined ruleset is used, ZWF AG Export Control can block a process if further investigation is required by an export control officer. It also provides information about the reason for blocking. The blocks are integrated in standard processes and are automatically executed when necessary.

Users of Export Control can be informed about export control-related transactions through email. They can maintain the block level: either release or block the order completely.