Parameter Types for Colombia
The SuiteTax Latam Engine -Colombia Records SuiteApp provides a parameter type to modify how NetSuite calculates the Retención en la Fuente por IVA (RETEIVA) tax.
To use it, you must:
-
Associate the parameter type with a tax determination settings record.
For more information, see Creating Tax Determination Settings in the SuiteTax Latam Engine.
-
Ensure the tax determination settings are associated with a tax determination rules record that has parent tax determination rules set up to calculate Impuesto al Valor Agregado (IVA).
NetSuite must first calculate the IVA amount, to then use is as basis to calculate RETEIVA.
The following table summarizes the basic information about the predefined parameter type.
|
Parameter Type |
IVA as Tax Basis |
|
Tax Code |
RETEIVA_CO |
|
Parameter Value |
— |
|
Available For |
Tax determination rules |
For more information about parameter types in general, see Creating Parameter Types in the SuiteTax Latam Engine.