Significance of EU Code in Tax Code - FTXP

Hi All,
When we give the Properties of the tax code in FTXP,there is a field EU CODE.I would like to know what is the significance of EU Code in tax code .We can maintain EU Code as 1 ,2 ,3 etc.Suppose, I change the EU Code from 2 to1 ,what will be the effect on the system.
Please guide me.
Thanks and Regards,
Payal Saxena

Hi Payal
The EU Code / EC code is used for classifying the tax codes which are to be taken into consideration in the EC sales list.
This is only possible for output tax.
Furthermore, this code is used for carrying out checks when entering a document.
If G/L account items are displayed in a document as delivery of goods or subcontracting within the EC using this code, you should also specify a VAT registration number (VAT reg.no.) in this document.
This means that the VAT reg.no. of the reporting country is defined in the customer master record when posting. During document entry, you can only enter a VAT reg.no. for manual cash discount expense postings. You cannot enter the VAT reg.no. directly in customer postings. For these postings, the system always fetches the VAT reg.no. by using the reporting country from the master record (document entry and document change).
I believe 1 is for Goods, 2 for Services & 3 for Subcontracting.
So definitely there will be a difference in recording these tax codes.
Rgds
Zub

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