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Tax procedure for VAT calculation on Base amount + WHT amount

Former Member
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Hi All,

Needed your inputs on definition of tax procedure, to calculate VAT tax where base amount + withholding tax amount are tax base components.

E.g. in AR line item:

Revenue: 950 (FB70 ->Editing options: calculate taxes on net amount check box is enabled)

WHT: 50 (5%) (Re-grossing method using)

VAT: 70 (7%)

To achieve as above how to define tax procedure: current procedure definition as below.

StepCounter-Ctyp----Description-From--To

100--0--- -


BASB--Base Amount

117--0--- -


J1W1Output Tax----100

118--0


MWS1-Subtotal--
100
----117

120--0--- -


MWASOutput Tax------118

Please through some light on this.

Thanks in advance.

SK

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Answers (1)

Answers (1)

Former Member
0 Kudos

Dear all,

Any comments please.

Highly appreciated calculating VAT tax on base amount and WHT (re-grossing up).

Thanks in advance.

SK