on 10-21-2015 9:21 AM
Hi,
As I understand for US and Canada, tax is calculated from Tax Jurisdiction code. How ever, there are tax codes in system, which have the tax rates in FTXP. From there the tax rate is picked, when we enter the tax code in the PO item, in invoice tab. I wanted to know,
1. what is the role of Tax Jurisdiction Code here.
2. Is the tax code and the tax jurisdiction code linked?
Regards
SR
Hello Swastik,
When you configure a plant is US or Canada, system will assign a Jurisdiction code. When you create Info records for Vendors, you can assign tax codes there. Also, system can get the tax code using MEK1 condition records. When PO is created, based on where you are purchasing (plant) and the tax code, system can get tax rate based on Jurisdiction code and will apply appropriate tax rate. It is suggested to use an external tax tool like Vertex when dealing with taxes in US. Hope this clarifies.
Thanks
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Hi Ranjan
If your company code is assign with jurisdiction code in OBCL system will ask for every tax code to assign the jurisdiction code . jurisdiction code it depends on region wise but its not mandatory .
Thanks
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Hi All,
Any inputs on the query please?
Regards
Rudra
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Hi,
Yes, tax code and its jurisdiction code are linked when you create a tax code in FTXP.
Regards,
Mukthar
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