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Inputs on tax needed..

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Created by Nilesh S (SUTHERLAND GLOBAL SERVICE) on 2011-05-31 09:59:07 Back to Topics

Inputs on tax needed..

Hi
 
Various Types of taxes and various Percentages are used by IATA .How is the Application of taxes and their percentages considered? are they based on location or item

Example: lets say that there various tax types like

1)VAT

2) Central Sales Tax
3)     State Sales Tax(SST) are defined in EB Tax Module at various Percentages of 10,15,8,6 etc And Items by name Mineral water bottle, Beverages, Food, Snacks,etc are defined in the inventory module and saved. Location Hierarchy like City State Country etc are defined

So now coming to tax calculation part which of the scenario is common in Miscellaneous Invoicing

ie 1) Let say Tax Or VAT on X Item  is always X% irrespective of location


or2) Tax or VAT is Y% based on location like XYZ City, state, county Irrespective of Item

Or3) Tax or VAT is Z% based on both X Item Y Location etc

 

Your inputs on this will be highly appreciated

Replied by Ashley H on 2011-06-08 10:32:30
Tax management in SIS is flexible and you will be able to report tax at the header level or at the Line Item/Line Item Detail. Moreover, you can report TAX or VAT - defined at different base amounts, different percentages, and different names.

Tax is under the responsibility of the billing entity. SIS is design to cope with all possible scenarios but it is up to the billing entity to define the way they would like to report taxes.

On the invoice page there will be a recap of all the taxes that have been populated at all the different levels. SIS will add up the taxes at the different levels for the total, so if a tax applies to a line item detail the it needs not be reported at the header level, SIS will aggregate them automatically.
 
Hope this clarifies.
Best regards

From:
Posted: Tuesday, May 31, 2011 9:59 AM
Subject: Inputs on tax needed..

Hi
 
Various Types of taxes and various Percentages are used by IATA .How is the Application of taxes and their percentages considered? are they based on location or item

Example: lets say that there various tax types like

1)VAT

2) Central Sales Tax
3)     State Sales Tax(SST) are defined in EB Tax Module at various Percentages of 10,15,8,6 etc And Items by name Mineral water bottle, Beverages, Food, Snacks,etc are defined in the inventory module and saved. Location Hierarchy like City State Country etc are defined

So now coming to tax calculation part which of the scenario is common in Miscellaneous Invoicing

ie 1) Let say Tax Or VAT on X Item  is always X% irrespective of location


or2) Tax or VAT is Y% based on location like XYZ City, state, county Irrespective of Item

Or3) Tax or VAT is Z% based on both X Item Y Location etc

 

Your inputs on this will be highly appreciated

 
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