Calculate Assessed Tax
The assessed tax feature enables you to calculate the assessed tax for fixed assets. The assessed tax is based on the information provided in the Fixed Asset Setup window. You can also export the results of the calculated tax as a Microsoft Office Excel template.
To work with the functionality of calculating assessed tax, you must specify the following settings:
- parameters in the Fixed Asset Setup page
- create and fill Tax authorities page
- fill in information about the organization
- create current directories
- fill in the parameters in the fixed asset cards
To calculate assessed tax
Choose the
icon, enter Assessed Tax Allowances, and then choose the related link.In the Assessed Tax Allowances window, fill in the fields as described in the following table.
Field Description Code Specifies the code for the assessed tax that is associated with the fixed asset. Name Specifies the name of the assessed tax code. Choose the OK button.
Choose the
icon, enter Assessed Tax Codes, and then choose the related link.In the Assessed Tax Codes window, fill in the fields as described in the following table.
Field Description Code Specifies a code for an assessed tax allowance. Description Specifies a description for the assessed tax code. Region Code Specifies a two-character region code that is used together with the Tax Authority No. field to determine the OKATO code. Rate % Specifies the tax rate for the assessed tax. If there are any tax allowances that reduce the tax rate, they must be included in the rate percentage. Dec. Rate Tax Allowance Code Specifies a code for the assessed tax allowance code that reduces the calculated assessed tax amount according to the tax allowances directory. This code is defined in the Assessed Tax Allowance table. Dec. Amount Tax Allowance Code Specifies the amount of an assessed tax allowance. Decreasing Amount Specifies the value to be used in the assessed tax calculation if there is a tax allowance that reduces assessed taxes. Exemption Tax Allowance Specifies a code for an assessed tax allowance exemption. This code is defined in the Assessed Tax Allowance table. Decreasing Amount Type Specifies whether the decreasing amount value is a percentage or an amount. Choose the Close button.
Choose the
icon, enter OKATO Codes, and then choose the related link.In the OKATO Codes window, fill in the Region Code and the Tax Authority No. fields, and then choose the OK button.
Choose the
icon, enter Fixed Assets, and then choose the related link.On the Assessed Tax FastTab, fill in the fields as described in the following table.
Field Description Assessed Tax Code Specifies the assessed tax code that is associated with the fixed asset. Property Type Specifies the property type of the fixed the fixed asset. Property types include: Immovable UGSS Property, Immovable Distributed Property, Other Property, and Special Economic Zone Property. Book Value per Share Specifies the book value of the fixed asset, per share. OKATO Code Specifies the region where the current fixed asset is situated. Tax Amount Paid Abroad Specifies the amount of tax that was paid abroad for the fixed asset. Choose the OK button.
To print the assessed tax declaration, you have to first import the declaration template. In the Fixed Asset Setup window, select the template name from the Templates FastTab.
Choose the
icon, enter Calculate Assessed Tax, and then choose the related link.In the Calculate Assessed Tax window, fill in the Tax Authority No., Year, and the Reporting Period fields.
Choose the OK button.