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Tax on Added Value (VAT) results from the transference of assets and services. Impacts all commercialization steps, being:
- Highlighted VAT (VAT) - In this case, use the formula:
Good Value/(1+ (Rate/100))
- Added VAT (IVC) - In this case, for the good valued 1000 (calculation base), established tax value is 120 (12% rate).
Rates are established by products group, in Legislation.
Types of Rate
Basically, conditions and rates expected in law for this calculation are:
- General (12%) fill out the field Type of Rate with the option G-General;
- Additional (22%) fill out the field % Additional Rate (Variable Taxes File) and the field: Type of Rate (TIO File) with the option A-Additional;
- Reduced (8%) fill out the field % Reduced Rate (Variable Taxes File) and the field: Type of Rate (TIO File) with the option R-Reduced;
- Export (0%);
- Exempt.
Previous registration for Tax Calculation
- In Variable Taxes, select Add.
System displays add window.
2. Fill out data according to field help instructions.
3. This file has self-explanatory filling. However, check the most important information to register this tax: