We are implementing Assets and currently using a system that not only calculates the tax on depreciation but also updates any new changes to the taxes as mandated by the federal and state government.
My understanding is that SAP does not auto update the tax changes in the system unless we have a tax software, is that right? And if we have no need for a tax software just to update depreciation tax changes, what are the options out there that will enable the new tax to be calculated and applied in SAP?
We are looking for an auto option instead of manually updating the percentage rates/tax for calculating depreciation in SAP. Is there any software that can be interfaced to SAP that can perform this function and enable the calculation of depreciation tax?
Appreciate any input/suggestions or help in resolving this issue.
Thanks