on 09-16-2008 3:45 PM
Hi,
I have a case with my client......We want GTS to calculate VAT for different countries(I know VAT is not there in US).....Can GTS be used for calculating VAT for different countries or is it possible only for the european community?
If yes then what needs to be done? Any customs enhancements or is it already there in GTS?
Hope you would help me,
Thanks,
Shruthi
shruthi,
In SAP R/3, VAT and Foreign Trade / Intrastat were close cousins from a design perspective. That is, they both used invoices as the means to aggregate and transmit data to the EU authorities, VAT obviously for tax purposes, Intrastat for statistical declarations.
Intrastat can now be done in GTS with the Electronic Compliance Reporting. But, to my knowledge VAT is still done in ERP FI-AP/AR.
There are, however, some GTS processes with potential VAT impact, such as IPR/OPR movements into and out of bonded warehouses, but I have no idea how these might be realized with either GTS or ERP.
Hope this helps a little.
Regards,
Randy
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Dutiable value is the amount declared to the customs authority on import. It may or may not be the same amount as the material invoice amount in the feeder system, depending on the statuatory additions and or subtractions mandated by customs. So this dutiable value needs to be calculated by GTS to determine customs value. Dutiable value, plus duty is the base for calculating VAT.
GTS would have to sequence to calculate Import duty first, then VAT (based on the rate from feeder system)
VAT amount would have to be sent to feeder system from GTS, and then sent to tax bolt on system.
Would this require creating a document for this transaction for the financial postings in the feeder system?
Aaron,
Actually I am not sure how the VAT amount (or any other data really) from the Customs document in GTS would be sent back to the feeder system. I don't believe there is any standard way to do this. A custom program might need to be created which would get the data from the GTS document and then transfer back to the feeder.
Does anyone have any experience with this?
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