Specify Basic Data for Stamp Duty

Explanation

This activity is used to specify the basic data for stamp duty, which will be used to calculate the stamp duty for supplier bills of exchange. Information on how much stamp duty is to be applied on various amount levels and whether the posting of stamp duty is done when the bill of exchange is posted will be specified.

The maximum and minimum division amounts specified is used to split a supplier bill of exchange of high value into several supplier bills of exchange to reduce the stamp duty applied to the bill of exchange. 

Prerequisites

There are no prerequisites to specify the basic data. To apply this data to the bills of exchange, a Supplier bill of exchange document type must exist, and the Allow Stamp Duty check box must have been selected in the Payment Documents window.

System Effects

Stamp duty calculation for supplier bills of exchange will be performed based on the information specified. 

Window

Stamp Duty

Related Window Descriptions

Stamp Duty

Procedure

  1. Open the Stamp Duty window.
  2. Create a new record.
  3. In the Maximum Division Amount field, enter the maximum division amount to be used when dividing a supplier bill of exchange. 
  4. In the Minimum Division Amount field, enter the minimum division amount to be used when dividing a supplier bill of exchange. If a bill of exchange is below the minimum division amount the bill will not be divided, but the stamp duty will be applied.
  5. In the Minimum BoE Amount field, enter the threshold supplier bill of exchange amount, which will determine whether to create a supplier bill of exchange. Bills of exchange will not be created below the amount specified, when a division of the bill of exchange is done automatically.
  6. Select the Posting of Stamp Duty together with BoE check box if posting of stamp duty is to be done when posting the bill of exchange.
  7. In the table section, create a new record.
  8. In the table section of the window, enter the stamp duty amounts applicable for the relevant BoE amount limits, as required. Use the Upper Limit field to specify the bill amount, and the corresponding Stamp Duty field to specify the stamp duty amount to be applied for the specified bill amount.
  9. Save the information.