| # Taxation LN supports value added tax, sales and use tax, and withholding of income tax and social contribution. Tax calculation is based on a flexible, rule-based tax model in which a set of standard tax rules is supported. Together with user-definable exceptions and exemptions, users can model every possible tax situation. In addition to the standard sales and use tax functionality, an interface with Vertex O Series is available for advanced US and Canadian tax calculation. A comprehensive set of standard and user definable tax reports is available for analysis and declaration. Submitted tax declarations can be paid to the appropriate collection offices by the standard payment process. In addition to tax reporting, European sales listings and European intrastat reporting are available. EU transaction reporting If your organization is based in a European Union (EU) member country, you must report your transactions with other EU member countries. Usually, you must submit monthly reports to the tax authorities that monitor the intercommunity transactions and intercommunity movement of goods. You must submit these reports: The Intrastat declaration of import/export statistics. The Sales listing. |