VAT for Goods and services.

Hi All,

We are on 11.5.10.2 . As per the EU 8th directive on VAT, it is required do calculate and report taxes separately for Goods and services.

We did the analysis for this requirement and found some serious gaps in 11i.

Particularly for PO - AP we have the following issues.

Firstly - We must have separate tax codes for Goods and service. - This can be done by having different naming conventions for example: GoodsVAT19, ServiceVAT9 etc.

But when it comes to using these tax codes, it is possible to assign only one type of tax code at any level of tax default hierarchy.