What is VAT rate in SAP BNS-CON - Concur?

SAP Term: VAT rate

• Component: BNS-CON

• Component Name: Concur

• Description: The tax rates for value-added tax.

Smart SAP Assistant

• Key Concepts: 
  VAT rate is a value-added tax (VAT) rate that is applied to certain goods and services in the European Union. It is a percentage of the total cost of the goods or services purchased. The VAT rate for each country is set by the government and can vary from 0% to 25%. In the case of BNS-CON Concur Expense, the VAT rate is applied to all expenses incurred in the EU. 
  
  How to use it: 
  When using BNS-CON Concur Expense, you will need to enter the VAT rate for each expense incurred in the EU. This can be done by selecting the country from a drop-down list and then entering the applicable VAT rate. The VAT rate will then be applied to the total cost of the expense. 
  
  Tips & Tricks: 
  It is important to ensure that you are entering the correct VAT rate for each expense incurred in the EU. If you enter an incorrect VAT rate, it could result in an incorrect total cost for your expense. Additionally, it is important to keep track of any changes in VAT rates as they can change over time. 
  
  Related Information: 
  For more information on VAT rates in the EU, please visit https://ec.europa.eu/taxation_customs/business/vat/how-vat-works_en.