Tax Class
Definition
An indicator that the system uses to determine which taxes are to be covered by a report. All the tax classes needed are supplied with the system and must not be changed.
Use
The tax classes used in Peru are as follows:
|
Tax class |
Tax |
|
J2A |
Excise duty |
|
VST |
VAT, purchase class 1 |
|
J2B |
VAT, purchase class 2 |
|
J2C |
VAT, purchase class 3 |
|
XX01 |
Exemption no. 1 |
Each tax class is assigned to a separate
process key so that the purchase ledger can distinguish between the different taxes. When you create a company code using the template for Peru, the system assigns the tax classes to the process keys automatically. To maintain the assignments yourself, in Customizing for Financial Accounting, choose General Ledger Accounting ® Business Transactions ® Closing ® Reporting ® Statutory Reporting: Peru ® Maintain Tax Classes.