(LVA) Set up tax depreciation calculations

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2

For annual income tax reporting in Latvia, tax depreciation is calculated for either an individual fixed assets or is based on summary information from all fixed assets that are assigned to the same fixed asset tax category.

Set up fixed asset tax depreciation

The following tasks must be set up to calculate fixed asset tax depreciation:

1. Click Fixed assets > Setup > Depreciation > Depreciation profiles. Use the Depreciation profiles form to setup relevant depreciation profiles that are based on the depreciation percentages that are announced by tax authorities.

   Select Reducing balance in the Method field.

   For more information see, (LVA) Set up a depreciation profile for tax depreciation

2. Click Fixed assets > Setup > Value models. Use the Value models form to define a tax category.

   备注

   Value models are referred to as tax categories.

   To create a value model (tax category), select the depreciation profile that has Reducing balance selected in the Method field in the Depreciation profiles form.

3. Select Tax in the Posting layer field.

4. Select the Summarize for category field if tax depreciation should be summarized and calculated for all fixed assets that have this value model selected in the Category field in the Fixed assets form.

5. On the Tax coefficients FastTab, set up the tax coefficients for each coefficient that is announced by tax authorities to adjust the acquisition price for the fiscal year.

6. Click Fixed assets > Common > Fixed assets > Fixed assets. Double-click a fixed asset or, on the Action Pane, click Fixed asset or Edit.

   On the General FastTab, select the value model in the Category.

Calculate fixed asset tax depreciation

1. Click Fixed assets > Periodic > Tax depreciation.

2. Click New to create a tax period to use for reporting.

3. Enter the period start date and end date.

4. Select a period status.

5. On the Category details FastTab, select the value model (category) in the Category field to calculate tax depreciation for.

6. Click Calculate to calculate tax depreciation.

   To view the tax depreciation details, click Tax depreciation details to open the Tax depreciation details form.

7. Click Tax depreciation report to print the Tax depreciation report.

See also

(LVA) Tax depreciation (form)

(LVA) Tax depreciation details (form)