Tax exemption certificates

Requirement

Customers who would normally be taxable for the supply of goods can hold tax exemption certificates (TEC).

In certain industries, specific types of equipment can be exempt of taxes, even at the application or end use of such equipment.

M3 solution

Tax exemption certificates are stored and validated by M3. An exemption certificate has a reference number and an expiry date after which it must be renewed with the tax jurisdiction. This detail can be stored in the customer master record in M3 and used for the tax decision.

Configuration guidelines

Not applicable.