What's New Viewer - SAP S/4HANA

VAT Return

The following new features are added to the VAT Return reports for the Philippines:

  • Schedule 1 (Schedule of Sales/Receipts and Output Tax): Mapping of Alphanumeric Tax Code (ATC) with industry and mapping of ATC with company code are now enabled for Schedule 1.

  • Schedule 2 (Purchases/Importation of Capital Goods (Aggregate Amount Not Exceeding P1 Million) ) and Schedule 3 ( Purchases/Importation of Capital Goods (Aggregate Amount Exceeds P1 Million)): These schedules for VAT Declaration Report are now supported.

These are appendixes in the the 2550M (Monthly Value-Added Tax Declaration) and 2550Q (Quarterly Value-Added Tax Return) forms.

Technical Details

Product Feature is

New

Country Dependency

Philippines

Application Component

Finance Accounting

Availability

SAP S/4HANA 1709 FPS02

Effects on Customizing

The following customizing activities are provided for defining and mapping alphanumeric tax codes for the Monthly Value-Added Tax Return and Quarterly Value-Added Tax Return forms:

  • Define Alphanumeric Tax Codes
  • Map Alphanumeric Tax Codes

You can find these customizing activities in Customizing for Financial Accounting (New) under Start of the navigation pathGeneral Ledger Accounting (New) Next navigation step Periodic Processing Next navigation step Report Next navigation step Statutory Reporting: PhilippinesEnd of the navigation path.