Last Updated on August 4, 2022 by admin
Create tax codes in SAP
The following tutorials guide you on how to create tax code step by step in SAP. We are creating an output tax VAT 5%.
Create a new tax code by using the following methods:
- SAP IMG Path: – SPRO > SAP Reference IMG (F5) > Financial Accounting > Financial Accounting Global Settings > Tax on sales/purchase > Calculation > Define tax codes for sales and purchases
- Transaction Code: – FTXP
Step 1: – A pop-up screen will be open and asks for a country key for which country you are configuring. Enter the country key and press enter to continue
Step 2: – Enter the new tax code in the tax code field and enter
Step 3: – Update the following data.
- Update the description of the tax code
- Enter tax type i.e V is for Input Tax and A is for output tax
Step 4: – Enter the tax rate in the tax. percent.rate field
Choose the save icon to save the data. A message will be displayed as ” Tax code was created”