EGL 9.1: Canadian VAT Tax Is Not Breaking Down By The Tax Authorities
Last updated on SEPTEMBER 27, 2017
Applies to:PeopleSoft Enterprise FIN General Ledger - Version 9.1 and later
Information in this document applies to any platform.
Customer has different accounts setup for each tax authority and rate and also understands that they can override the VAT accounting and reporting set at the VAT accounting entry type with that defined at the VAT transaction type code. However, they have the business requirement for Quebec province in Canada that need to account and report the Quebec VAT tax by the individual authorities GST and QST for GL accounting and VAT reporting. Per our tax department, this requirement is mandated by Canadian VAT authorities. Can PeopleSoft accommodate this?
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