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• Tax Maintenance
Chapter 5 – Tax
Tax Maintenance
Tax Types
You use tax types for calculation of value added tax (VAT). The system extracts values per tax type, which allows you to generate the reports to the tax authorities.
For existing databases, the system generated the following tax types for you automatically:
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Output Tax
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Output Tax Adjustment
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Input Tax
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Input Tax Capital
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Input Tax Adjustments
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Zero Rate
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Exempt
When you create a new database, the system generates the following tax types for you automatically to accommodate the Tax Box Report (South African users only):
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Standard Rate (Excluding Capital Goods)
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Standard Rate (Capital Goods)
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Zero Rated (Excluding Goods Exported)
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Zero Rated (Only Exported Goods)
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Exempt and Non-Supplies
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Accommodation Exceeding 28 Days
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Accommodation Not Exceeding 28 Days
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Change in Use
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Export of Second Hand Goods
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Capital Goods Imported
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Other Goods Imported (Not Capital Goods)
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Bad Debts
You access this function via the Maintenance...Tax...Tax Types menu option, or via the system tree
Tax...Maintenance...Tax Types function:
You also need to specify, at various places in the system, one or more general ledger accounts to use as a tax control account. Although you can use more than one tax control account, we strongly suggest that you use only one general ledger account for tax control purposes.
