Suggested Answer:D🗳️
Sales tax authorities are entities to which collected sales tax needs to be reported and paid. You can pay sales taxes to the authority directly or through a vendor account that you create for the sales tax authority. If you do this, the company can use its usual payment routines to pay the sales tax authority on time. If you do not set up the tax authority as a vendor, someone must prepare a manual payment to the tax authority on the appropriate due date.
Note: Taxes - As part of the spinoff to a subsidiary, Humongous Insurance's subsidiaries taxes must be changed from US government rates to Chinese government rates. Humongous Insurance's subsidiary must track use taxes that are not claimed or reported to the Chinese tax agency. Reference: https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/set-up-sales-tax-authorities
A. Configure sales tax groups for transactions that occur in China: Sales tax groups in Dynamics 365 Finance define the tax codes applied to transactions based on the location or jurisdiction of the transaction (e.g., customer or vendor location). To apply Chinese government tax rates instead of US rates, you need to create or modify sales tax groups that include tax codes aligned with Chinese tax regulations.
To reconfigure the taxing jurisdiction for Humongous Insurance's subsidiary in Dynamics 365 Finance, we need to address the requirement that the subsidiary, operating in China, must change its taxes from US government rates to Chinese government rates and track use taxes that are not claimed or reported to the Chinese tax agency.
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globeearth
2 days, 3 hours ago