Taxable journal with multiple taxes
Hi, could anyone advise whether it is achievable with Taxable journals:
I am trying to load tax data, that are fully calculated tax data from external system for consolidated VAT and other tax reporting. Data are fully calculated in the retail POS terminal, so the only thing i need - to accurately load everything as is.
The law assumes 3 taxes (this is UAE):
- Municipal tax - 7% on the revenue
- Tourism tax - 7% on the revenue, and
- VAT - 5 % on the revenue and both taxes above.
Oracle tax configuration is quite obvious in this case, and it is, when allowing Oracle to calculate - works without any issues, be it manual or interfaced AR invoice, or, i case of ADFDI/FBDI, when you only load revenue line and allow Oracle to proceed with taxes.
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