Tax Rate Calculation

Hello Experts
I have a Tax combination BED+VAT contains the following tax codes
BED = 16%
E Cess = 2% (on BED)
HS Cess = 1% (on BED)
VAT = 4% (on (BEDE CessHS cess) )
when manually calculated the total tax percentage is 21.1392%
where as in B1 under the tax code it shows Tax Rate as 23 % (1621+4)
Is there any possible way to get the correct Tax Rate in Business One 8.8 .
Regards
Arun

Hi Arun,
Set formulation as follow -
1. Create Formula for BED -
     BED_BaseAmt = Total
     BED_TaxAmt=BED_BaseAmt*BED_Rate
2. Create Formula for eCess -
     Cess_BaseAmt=BED_TaxAmt
     Cess_TaxAmt=Cess_BaseAmt*Cess_Rate
3. Create Create for formula for ShCess-
     Shcess_TaxAmt=BED_TaxAmt*Shcess_Rate
     Shcess_BaseAmt=Shcess_TaxAmt
4. Create Vat Formula for Vat -
     BaseAmt=TotalBED_TaxAmtCess_TaxAmt+Shcess_TaxAmt
     TaxAmt=BaseAmt*Rate
5. Create Tax Combination as BED+VAT4 - select tax types BED,eCess ,ShCess and vat then select formula codes as above you defined accordingly.
Thanks
Sachin

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Thanks....

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I will like to carry forward with Eric's post:
with VBRP-MWSKZ you can use FM GET_TAX_PERCENTAGE (you'll need the country as well)
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BTW, you said in your firm you do not have Function ppl, is it true ??
BR,
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Edited by: Suhas Saha on Jan 14, 2009 11:20 AM

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