Poperty Tax, Wealth Tax for a Buiilding

[cm_cm]

Hi all,

My client wants to pay Property Tax & wealth Tax for a Building to municipality. How we can capture this taxes through our module.

Pls through the solution.

appreciate for the solution and thanks in advance.

CM

[Former Member]

Hi CM,

Assumptions

Government fixes the property tax for each building / property / land. The fixed percentage is valid until the authority sends a new tax notification. The amount is payable by client for the properties that Cliente owned. Property tax is based on annual value of a property.

Solution

Use the contract and the calculation of rates to calculate and post the property tax. Note that contract can be created not only for rental unit but also for the whole building/property. Contract has start and

end date. Annual value of property is stored in contract in system and can be mass adjusted or manually adjusted per annual change. At the same time, the property tax percentage is also stored in the

same contract and system will calculate the % on top of the annual value. On a periodic basis (before 31st Jan for the case of XXX country), you can run the payment program in SAP to generate the amount

to be paid (with the details) and compare against the list that government will send you.

Thanks

Veman