How To Fix ICC-KR556 - No formula for withholding tax type &1 and withholding tax code &2

SAP Error Message - Details

• Message type: E = Error

• Message class: ICC-KR - Localization (South Korea)

• Message number: 556

• Message text: No formula for withholding tax type &1 and withholding tax code &2

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message ICC-KR556 - No formula for withholding tax type &1 and withholding tax code &2 ?

  The SAP error message ICC-KR556 indicates that there is no formula defined for a specific withholding tax type and withholding tax code in the system. This error typically arises during the processing of transactions that involve withholding tax calculations, such as vendor invoices or payments.
  Cause:
  
  Missing Configuration: The most common cause of this error is that the withholding tax type and code specified in the transaction do not have a corresponding formula defined in the system.
  Incorrect Tax Code: The tax code used in the transaction may not be correctly set up or may not correspond to the withholding tax type.
  Inconsistent Data: There may be inconsistencies in the master data for vendors or customers related to withholding tax settings.
  
  Solution:
  To resolve the ICC-KR556 error, you can follow these steps:
  
  
  Check Withholding Tax Configuration:
  
  Go to the SAP Customizing Implementation Guide (SPRO).
  Navigate to Financial Accounting (New) > Accounts Payable > Withholding Tax > Withholding Tax Types.
  Ensure that the withholding tax type and code in question are correctly configured and that a formula is defined for them.
  
  
  
  Define or Adjust the Formula:
  
  If a formula is missing, you will need to create or adjust it. This can be done in the same configuration area where you checked the withholding tax types.
  Ensure that the formula correctly calculates the withholding tax based on the requirements of your organization and local tax regulations.
  
  
  
  Check Master Data:
  
  Review the vendor or customer master data to ensure that the withholding tax type and code are correctly assigned.
  Make sure that the relevant withholding tax indicators are set up properly in the vendor or customer records.
  
  
  
  Test the Configuration:
  
  After making changes, test the configuration by processing a transaction that previously generated the error to ensure that the issue is resolved.
  
  
  
  Consult Documentation:
  
  Refer to SAP documentation or help resources for specific details on withholding tax configuration and formulas, as these can vary by country and business requirements.
  
  
  
  Related Information:
  
  Withholding Tax Types: These are classifications of withholding taxes that determine how tax is calculated and reported.
  Withholding Tax Codes: These codes are used in transactions to identify the specific type of withholding tax that applies.
  SAP Notes: Check for any relevant SAP Notes that may address specific issues or provide updates related to withholding tax configurations.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a consultant who specializes in SAP Financial Accounting.