VAT system works in SAP

Question: Hi Guys,

Can someone explain how the VAT system works in SAP? Is this like Vertex? And is there a Tcode to generate a VAT report?

Thanks

Answer:
You apply a tax code to any tax-relevant transactions. this generates a line item for the tax. A report at end of peiod calculates tax receivable and payable, and posts it to a clearing account.

Beyond that, there are innumerable variations for local law. Each country is different. A "standard" tax report that works for many countries is RFUMSV00. Other than that, have a look at transaction FTXP, and look at the tax category field on GL accounts.

Jim

Answer:
read basic rules.
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