What's New Viewer - SAP S/4HANA

VAT Return

VAT returns generated using the Run Advanced Compliance Reports app now also consider adjustments when calculating the VAT due for a reporting period. Adjustments are tax base amounts from the previous reporting period that need to be adjusted against the current reporting period. For example, for sales, adjustments are tax base amounts of goods sold in the previous reporting period that are returned in the current reporting period.

Technical Details

Product Feature is

Changed

Country Dependency

Valid for Saudi Arabia

Application Component

FI-LOC-FI (Localization Financials)

Availability

SAP S/4HANA 1809

Additional Details

In the report output, adjustments are displayed in the Adjustment column for the corresponding sales or purchase category. Adjustment amounts are deducted from the tax base amounts before calculating the VAT due on sales or purchases.

Effects on Customizing

You need to maintain your VAT Registration number in your company code master data to display it in the header section of your VAT return.

See Also

For more information about VAT Return for Saudi Arabia, see VAT Return.