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    Maintain New Tax Codes and Tax Boxing - Legacy

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    8% VAT Rate for the North Region Maintaining new tax codes and tax boxing

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    Maintain New Tax Codes and Tax Boxing - Legacy

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    mmt
    81 views5 pages
    8% VAT Rate for the North Region Maintaining new tax codes and tax boxing

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    Maintain New Tax Codes and Tax Boxing_Legacy

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    8% VAT Rate for the North Region Maintaining new tax codes and tax boxing

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    81 views5 pages

    Maintain New Tax Codes and Tax Boxing - Legacy

    Uploaded by

    mmt
    8% VAT Rate for the North Region Maintaining new tax codes and tax boxing

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    8% VAT Rate for the North Region


    Maintaining new tax codes and tax boxing
    TABLE OF CONTENTS
    LEGAL CHANGE ........................................................................................................................................ 3
    New Tax Codes .......................................................................................................................................... 3
    Maintain Tax Boxing .................................................................................................................................. 3
    Creditable VAT amounts............................................................................................................................ 3
    Non-creditable VAT amounts .................................................................................................................... 4
    Withholding Taxes and Credit Memos ...................................................................................................... 4

    2
    LEGAL CHANGE
    A new VAT rate of 8% was stablished by a presidential decree in Mexico as of January 1, 2019. The tax boxing
    of the Monthly VAT Return for Vendors (DIOT) report (RFIDMXFORMAT29) is adjusted to support the 8%
    VAT rate.

    New Tax Codes


    Deferred and target tax codes must be defined for the new 8% VAT rate. This is required for both, input and
    output taxes.
    For more information on how to configure Tax Codes, please check this help link: Configuring Tax Codes

    Maintain Tax Boxing


    Adjust the mapping in your system for each tax boxing that you use. To do so, go to SM31 transaction, in the
    Grouping of Tax Base Balances (V_T007K) view, and map the tax codes to their corresponding fields in the
    Monthly VAT Return for Vendors (DIOT) output file.

    Creditable VAT Amounts


    To include the new 8% VAT rate, the Monthly VAT Return for Vendors (DIOT) report organizes net amounts
    in the following fields:

    VAT Rate File Field


    Tax Description V_T007K-BASGRUNO

    Base amount in transactions of 15% or 16% VAT 8

    Base amount in transactions of 15% VAT (only for transactions in 9


    2010)

    Base amount in transactions of 11% or 10% VAT 11

    Base amount in transactions of 10% VAT (only for transactions in 12


    2010)

    Base amount in transactions of 8% VAT (only for transactions in 2019) 13

    Base amount in transactions of 15% or 16% VAT for imports 16

    Base amount in transactions of 10% or 11% VAT for imports 18

    Base amount in transactions exempted of VAT for imports 20

    Base amount in transactions of 0% VAT 21

    3
    VAT Rate File Field
    Tax Description V_T007K-BASGRUNO

    Base amount in transactions exempted of VAT 22

    Non-creditable VAT Amounts


    You can report non-creditable VAT amounts in the output file of the Monthly VAT Return for Vendors (DIOT)
    report. To do so, use the user-exit RFID_EXIT_FORMAT29 function module (SM37 transaction).
    Find below the fields that you can use to report non-creditable VAT amounts in the Monthly VAT Return for
    Vendors (DIOT) report:

    VAT Rate File Field


    Tax Description V_T007K-BASGRUNO

    Non-creditable VAT amount of 15% or 16% VAT 10

    Non-creditable VAT amount of 10% or 11% VAT 14

    Non-creditable VAT amount of 8% VAT 15

    Withholding Taxes and Credit Memos


    If you have scenarios of withholding taxes and credit memos, you have to report VAT amounts instead of net
    amounts. Find below the fields that you can use to report VAT amounts in the Monthly VAT Return for
    Vendors (DIOT) report:

    VAT Rate File Field


    Tax Description

    Withholding VAT amount 23

    VAT amount of credit memos 24

    4
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