SAP ERP › SAP FI/CO › Input & Output Tax

Input and Output Tax

SAP Financial Accounting · Practice Question

Q1

The government announces that it plans to change the basic VAT tax percentage from 20% to 18%. What do you have to do in the system to comply?

Choose the correct option

  • a. Change the tax percentage for input and output tax codes to 18%
  • b. Create new tax codes with the 18% percentage for input and output tax
  • c. Create new tax codes with the 18% percentage for input tax
  • d. Change the tax percentage for existing input tax codes to 18%
✓  Correct Answer: b — Create new tax codes with 18% for input and output tax

Menu Path — Basic Settings

Display IMG → Financial Accounting → Financial Accounting Global Settings → Tax on Sales/Purchases → Basic Settings

  • OBYZ Check Calculation Procedure
  • OBBG Assign Country to Calculation Procedure
  • OBCN Check and Change Settings for Tax Processing

Menu Path — Calculation

Display IMG → Financial Accounting → Financial Accounting Global Settings → Tax on Sales/Purchases → Calculation

  • FTXP Define Tax Codes for Sales and Purchases
  • OBCK Assign Company Code to Document Date for Tax Determination
  • OB69 Specify Base Amount

Menu Path — Posting

Display IMG → Financial Accounting → Financial Accounting Global Settings → Tax on Sales/Purchases → Posting

  • OB40 Define Tax Accounts
  • OBCL Assign Tax Codes for Non-Taxable Transactions