Tax Codes by Group Tax Code (tctax0139m000)

Field Information

Country

The tax country for which you maintain the group tax code.

Group Tax Code

group tax code

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 in the Tax Codes by Country (tcmcs0536m000) session and on the appropriate menu, click Approve.

Caution: 

After you approve the group tax code, you cannot undo your approval or change the tax code details.

Tax Code

The tax code linked to the group tax code. Tax rates defined for the tax code apply to transactions that have the group tax code.

Kind of Tax

VAT

Regular value added tax (VAT) on sales and purchases.

Note: For tax registration setup, this kind of tax also represents sales tax.

Stamp Tax

A kind of tax on trade notes.

Withholding Income Tax

Withholding tax that you must withhold from your suppliers' purchase invoices and pay directly to the collection office.

Withholding Social Contribution

Withholding social contributions on purchase invoices that you must withhold from your suppliers' purchase invoices and pay directly to the collection office.

Social Contribution (Company Expense)

Social contributions (expense) that you can post as costs.

Exclude from Withholding

You can link tax codes of this kind of tax to purchase transactions that are not subject to withholding tax, but that you must report to the collection office for withholding tax and social contributions.

Tax Settlement

On the tax analysis reports, tax payments to the collection office are represented by this kind of tax code.

Not Applicable

None of the previous types apply. For example, for a group tax code the kind of tax is Not Applicable.