Purpose
A tax key defines how a tax type is processed in accounting - for example, whether it is VAT, input tax or a tax-free item.
You create the tax key once and can then use it in the tax matrix.
Prerequisites
Before you create a tax key:
Determine which tax type (e.g. domestic, foreign, intra-community, tax-free) you want to map.
Make sure that this tax situation does not already exist.
Step-by-step instructions
Open menu
Call up the Edit tax key area.
Create a new tax key
Click on New or +.
Assign a unique and short name (e.g. UST19, V7, EoV19).
The abbreviations used by Scopevisio areV = Input tax
U = sales tax
ZM = Transactions that are reported as part of the ZM but do not trigger tax
E = Intra-Comm. Acquisition of goods with reverse charge procedure
B = Receipt of construction services with reverse charge procedure
L = Receipt of intra-comm. Services with reverse charge procedure
SL = Receipt of other services for reverse charge procedure
Enter a description to document the purpose. This description is transmitted to the tax authorities via IDEA export in the event of a tax audit.
Define tax type
Select whether the key applies to sales tax, input tax, input tax and sales tax or without input tax and with sales tax .
This specification later determines which accounts are displayed in the tax matrix.
Define scope of validity and country
If you are working with several countries (e.g. OSS procedure), select the country in which the tax key applies.
This allows you to keep separate tax keys for each country.
Save
Save the new tax key.
It is now available for selection in the tax matrix.
Example:
The key name EoV7 would indicate that this is an intra-comm. The key name EoV7 would indicate that it is an intra-community acquisition of goods that are subject to the reduced tax rate of 7% in Germany, but that your company itself is not allowed to claim input tax from the purchase.
A medical practice that is not entitled to deduct input tax orders a specialist book using its VAT ID, which is delivered by Amazon using a French VAT ID.
Notes
You can edit existing tax codes if necessary, but not delete them if they have already been used in postings.
When changing percentages or accounts, you should always check whether this affects current postings.
Also take a look at dynamic tax keys as an option.
Result
Once created, you can assign the tax key in the tax matrix, assign percentages and link accounts.
This ensures that tax postings are processed correctly.
Tags
#tax key #taxes #accounting #pre-tax #sales tax #OSS #tax matrix