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Plants Abroad

ByAshok Reddy

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Agenda

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Introduction

• Each country has their own Tax legislations and

Tax rules• Plants Exist abroad for a company• Single Company code• Easy maintenance of Month end reports• Proper VAT reporting for Foreign VAT registrations

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Activating Plants Abroad

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•Acquisition tax must be applied by the receiving party at the local rate .•Any company that is entitled to reclaim input tax does not ultimately pay acquisition tax. •When the incoming invoice is posted, the tax amount is posted both as a payable and as a

receivable on the tax account

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ByAshok Reddy