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Need a confirmation : Combination Tax Point Basis = Payment & Account for Payment = at Clearing

Received Response
edited Oct 19, 2020 1:43PM in Tax & Global 2 comments


Could you please confirm my understanding about Tax Point Basis setup described in the Tax Implementation Guide :

Comply with tax regulations by assigning the correct tax point basis for a tax. The value you select determines the event at which the taxes for an invoice are reported.The following table describes the tax point basis values:

Payment : If a tax on a purchase invoice has Payment as the tax point basis, then the recoverable tax is debited to an interim account on invoice accounting. On accounting for the corresponding payment, a proportionate tax amount is recovered and the same is reported as of that payment date.


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