Infrastructure Investment and Jobs Act (the “Infrastructure Bill”)

[renatopereira]

Hello all,

I was searching for this bill that reinstates the Superfund Excise Taxes on chemicals and taxable substances for the mining industry in the United States and have not found much.

"IRC section 4661(b) lists 42 chemicals. Each chemical has a specified rate of tax, imposed on a per US ton basis."

"The list of taxable substances was incorporated into the IRC as a result os Superfund Amendments and Reauthorization Act (SARA), effective in 1989. The current list is published in IRC section 4672(a)(3). The tax rate for taxable substances is dependent on the individual chemical composition of the substance."

Please, I would like to know if any of you have already worked on this. About how to approach the reporting requirements, remittance, calculation and G/L posting processes in SAP.

Thank you,

[renatopereira]

Hello Catherine,

No. I suggested at that time to my manager to look for a local Consultant.

[former_member859852]

Hello Renato,

Can you found any solution in SAP for Superfund Tax in USA?

[renatopereira]

Hello Satendra,

I appretiate your answer.

Actually I am not from the USA and I recommended to my manager to consult first with a local resource.

I tried to search for an Excise Condition Type at the time but I couldn´t find anyone by name to use as a reference.

Despite I know tax configuration is not very complex in the USA and Europe I am not acquainted to it. E.g. in my country Brazil there are other things behind a sale "for consumption".

At the time I just found some news about this law published by two of the big four tax consulting firms, but not related to SAP.

Related to SAP I just found that SAP has a specific product to deal with Excise taxes.

Thank you.

[chaudhary_satendra]

Hello Renato,

In my opinion, solution of Superfund Excise Taxes in the US is not a big deal. It can be accomplished by existing SAP framework using SD pricing condition for sales and using tax conditions (easy method) or MM pricing (slightly tricky) easily. To start with, you should agree on the desired accounting for various cases and then play with the SD pricing, tax procedure or MM pricing to get the desired outcome.

I hope this helps. Good Luck!