Creating Tax Determination Settings in the SuiteTax Latam Engine

Note:

To access the SuiteTax Latam Engine SuiteApp documentation in other languages, do the following:

To access the documentation in Brazilian Portuguese (Português do Brasil), see SuiteTax Latam Engine.
To access the documentation in Spanish, select Español (Latinoamérica) from the dropdown list at the top right corner of the NetSuite Help Center.

The tax determination settings record enables you to define the context to which a tax determination rule applies. You can use the tax determination settings to set the following conditions:

The tax to which a rule applies
The tax rate at which the company or individual is taxed
Additional parameters that affect the tax determination process

To create a tax determination settings record:

Go to Setup > Latam Tax Determination > Tax Determination Rules.
Click View next to the tax determination rules record you want.
Click the Settings subtab.
Click New Tax Determination Settings.
In the Rate field, enter the percentage at which the tax applies.
In the Effective From field, enter or select the date the tax determination settings start being effective.
(Optional) If the settings apply to a limited period of time, in the Effective Until field, enter or select the date the settings stop being effective.

After the end of its effective period, the tax determination settings record is no longer considered in the tax determination process.
In the Tax Code field, select the tax code to which the settings apply.
(Optional) If deductions apply to transactions subject to the settings, in the Deduction Amount field, enter the amount that should be deducted from the total calculated by NetSuite.
If the tax determination settings should apply to the selected tax code according with a specific parameter, do the following:
1. In the Parameter Type field, select the type of parameter that modifies how the settings apply.
  
  For more information, see Creating Parameter Types in the SuiteTax Latam Engine.
2. (Optional) In the Parameter Value field, enter the value for the parameter.
Important:
You must ensure that your SuiteTax Latam Engine plug-in is prepared to consider the parameter type and value when determining the tax.
To be able to override the tax calculation basis and the tax rate used by the SuiteTax Latam Engine on transactions to which these settings apply, check the Enable Tax Basis and Tax Rate Override box.
Click Save.

To create a tax determination settings record:

Related Topics