CFP data processing - Indirect taxes calculation

Through this data process, the notional and entity indirect taxes settlement is calculated.

From this point on, the system processes one year at a time.

The system:

  • creates the events related to the tax down payment:
  • for the first year processed, the “down payment percentage” is applied to the value of the “prev. year tax account (statistical)” saved in the initial balance sheet

  • for subsequent years, if the “reference period for the down payment calculation” is indicated on the indirect tax policy, then the “down payment percentage” is applied to the value of the indirect tax account for the previous year

  • event “$GBL” - Accounting, with the following characteristics

  • account equal to the “Indirect tax account: debit settlement variation”
  • custom dimensions equal to those present in the original data item
  • event date equal to the down payment day / period indicated in the policy
  • currency equal to the currency of the indirect tax policy
  • reference account equal to the “Indirect tax account: debit settlement variation”
  • currency amount equal to the down payment amount * -1
  • origin equal to CFP_VAT_DOWN_PAYMENT - CFP - VAT – Down payment
  • event “$GBL” - Accounting, with the following characteristics
  • account equal to the “Bank account: payment variation”
  • custom dimensions equal to those present in the original data item
  • event date equal to the down payment day / period indicated in the policy
  • currency equal to the currency of the indirect tax policy
  • reference account equal to the “Indirect tax account: debit settlement variation”
  • currency amount equal to the down payment amount
  • origin equal to CFP_VAT_DOWN_PAYMENT - CFP - VAT – Down payment
  • creates the events related to the tax settlement; if the balance of the entity total for the Indirect tax account is in debit or in reimbursable credit, the tax settlement is created. Debit destinations pay, credit destinations collect.
  • event “$GBL” - Accounting, with the following characteristics
  • account equal to the “VAT account: debit settlement variation” for tax payable or receivable “Indirect tax account: credit settlement variation” for tax receivable
  • custom dimensions equal to those present in the original data item
  • event date equal to the year-end calculation (following period start date + “payment months”) + “payment days”
  • currency equal to the currency of the indirect tax policy
  • reference account equal to the “VAT account: debit settlement variation” for tax payable or receivable “Indirect tax account: credit settlement variation” for tax receivable
  • currency amount equal to the tax to be settled, reversed in sign
  • origin equal to CFP_VAT_PAYMENT - CFP - VAT – Payment
  • event “$GBL” - Accounting, with the following characteristics
  • account equal to the “Bank account: payment variation” for tax payable or “Bank account: collection variation” for tax receivable
  • custom dimensions equal to those present in the original data item
  • event date equal to the year-end calculation (following period start date + “payment months”) + “payment days”
  • currency equal to the currency of the indirect tax policy
  • reference account equal to the “VAT account: debit settlement variation” for tax payable or receivable “Indirect tax account: credit settlement variation” for tax receivable
  • currency amount equal to the tax to be settled
  • origin equal to CFP_VAT_PAYMENT - CFP - VAT – Payment
  • if the indirect tax policy performs the “group indirect taxes calculation”
  • the events created always have an indication of the CTP entity indicated in the execution plan (by process / entity) or in the definition that has been set (by process / entity / policy)
  • tax is always reimbursable
  • if “public holiday” has been indicated on the indirect tax policy, it is not possible to create events on dates defined as public holidays: the process moves the date to the date indicated as the “operation date”.