2.5.2.1 Currency Details
For more information on the fields, refer the Field Description table given below:
Table 2-5 Currency Details - Field Description
| Field | Description |
|---|---|
| Calculation CCY Basis |
Calculation currency is the currency in which the Basis Amounts slabs are defined. You need to specify whether the calculation currency for the Basis Amount should be Specific or Deal. Specific indicates that the Basis Amount will be defined as per the currency selected in the Currency field. Deal indicates that the Basis Amount will be defined in the currency of the transaction. |
| Reference Currency | Specify the reference currency. |
| Currency for Calculation Currency | You need to specify the currency to be used for conversion of the taxable amount. This option is enabled only if the Calculation Currency Basis is selected as Specific. |
| Tax CCY Basis |
You need to specify the currency in which the final tax should be computed by the tax subsystem. This could either be Specific, Deal or Local currency. Specific indicates that the final tax would be reported in the currency defined in the Tax Currency field of Tax Rule Maintenance. Deal indicates that the final tax reported by the tax subsystem would be in the currency of the transaction. Local Currency indicates that the final tax would be computed in the local currency of the Branch. |
Parent topic: Currency in which the Tax has to be Calculated