New Spanish Legal Requirements. New tax rates 2010.
As you probably know, new tax rates will apply in Spain from July 1st 2010, with this blog we want to give you an FAQ space regarding this changes as well as some guidelines about the implementation of it in the FI module.
Which is the change?
The VAT percentage will be changed as follows:
- the reduced VAT rate will be increased 1 point from 7% to 8%
- the regular VAT rate will be increased 2 points from 16% to 18%
What to do?
1.Do not change the percentage rates for already existing tax codes.
2. Create new tax Codes
Follow Customizing path (Transaction FTXP):
Financial Accounting global settings
-> Tax on sales/purchases - Calculation
-> Define tax codes for sales and purchases.
Copy your old tax codes into the new tax codes and adjust their texts (in properties), and the new percentage rate.
3. Update the account determination.
Follow Customizing path (Transaction OB40).
Financial Accounting global settings
-> Tax on sales/purchases
-> Posting
-> Define tax accounts
4. Check “Tax Category” in for your Tax-relevant G/L accounts on Company Code level.
Only in case you defined tax codes to be defaulted in field “Tax Category” in the G/L account master record, these tax codes must be replaced by new tax codes. You might check the entries in table SKB1 for field MWSKZ.
5. For companies that are using report RFIDESM340 to obtain the model 340
Check if you need to update table ES340_OPRKEY in transaction SM30 with the new tax codes.
6. Check the variants for reports that select tax codes in their selection screen, and update them with the new tax codes.
7. Check and update all your templates: your Recurring and Sample Documents, account assignment models, sample master records, etc.
8. If you receive data from non SAP systems.
Check the need to update the new tax codes in all feeder and external systems.
9. For changes in other SAP modules (FI-TV, MM, Invoice Verification,
SD, IS-RE) please refer to SAP note 117983.
17 Comments