E1:09:R09616 TAX AT TRANSACTION LEVEL
Last updated on JULY 27, 2016
Applies to:JD Edwards EnterpriseOne General Ledger - Version 9.1 to 9.1 [Release 9.1]
Information in this document applies to any platform.
In South Africa, certain bank transactions like Interest received and Interest paid are deemed not to be value added services, and therefore they do not attract VAT. However, other bank transactions such as Bank charges, Service fees, Forex commissions are deemed to be value added services and therefore they do attract VAT.
As per current design the Tax processing can be defined only at Account Level in P09628, there is no way to differentiated as per above when using the Automatic Bank Statement process.
Request is to define all of the SWIFT transaction codes and define at that level whether the transaction code/type is subject to VAT rather than at the Bank Account level.
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