Federal/VAT overview
The Federal/VAT Tax Setup page specifies a federal tax amount in cents per gallon (value) or a percentage. This is an optional feature, maintained by the Seller, and used in the calculation of the Credit Hold and estimated BOL cost.
If a country is not listed in the table of results, select a country from the Add Country arrow and click Add Country
.
Federal/VAT field descriptions
The following fields are available on the Federal/VAT Tax Setup page.
| Field | Description |
|---|---|
| Type: |
Specifies the tax rate type as cents per gallon or percentage. Options are:
|
| Rate: | Specifies the currency used in the tax rate calculation per unit of measure, if Percentage is selected in the Type field. |
| Volume: |
Provides the currency used in the tax rate calculation per unit of measure, if Value is selected in the Type field. Options are:
|
| Weight: |
Contains the currency used in the tax rate calculation per unit of measure, if Value is selected in the Type field. Options are:
|
| Comments: | Displays comments when modifying a tax rate. This is an optional field. |
Credit Hold Calculation Formula
Below is the formula for calculating the Credit Hold :
Federal Tax Amount = Decrement Amount x the Federal Tax Rate for the Consignee
Estimated Load Cost calculation formula
Below is the formula for calculating the Estimated Load Cost:
Federal Tax Amount = Gross Gallons from each finished product BOL line x the Federal Tax Rate Per Gallon