VATupdate

Time dependent taxes in SAP S/4 HANA Cloud – flexible management of changing tax rates

Companies often need to adapt, change and plan their tax rate changes for different periods of time to comply with law requirements. Due to COVID-19, governments are making changes to VAT rates and provide guidance on time-sensitive transition periods. For example, on 3 June 2020, the German parliament proposed to temporarily reduce the VAT rates from 1 July 2020 until 31 December 2020. S4Hana CE 1911 release allows users to respond to these changes by using time dependent taxes.

Source: PwC Finland

* click here if you have interesting news to share *