What is 'multilevel tax code' in SAP RE - Real Estate Management?

multilevel tax code - Overview

• Component: RE

• Component Name: Real Estate Management

• Description: An indicator that distributes a tax amount between different tax accounts. &EXAMPLE& A multilevel tax code E1 is defined as follows: Acquisition tax Debit €16,000 Acquisition tax Credit €100,000

multilevel tax code - Details

• 
  Key Concepts: 
  A multilevel tax code is a feature of SAP Real Estate Management (RE) that allows users to assign multiple taxes to a single transaction. This feature is useful for businesses that need to apply different taxes to different parts of a transaction, such as when a customer pays for goods and services in different countries. The multilevel tax code allows users to assign different taxes to each part of the transaction, ensuring that the correct amount of tax is applied.
  
  How to use it: 
  To use the multilevel tax code feature in SAP RE, users must first create a tax code for each part of the transaction. This can be done by navigating to the Tax Code tab in the RE application and selecting “Create Tax Code”. Once the tax codes have been created, they can be assigned to each part of the transaction by selecting “Assign Tax Code” from the Tax Code tab. 
  
  Tips & Tricks: 
  When creating tax codes for a multilevel transaction, it is important to ensure that all of the codes are correctly assigned. This can be done by double-checking that all of the codes are assigned correctly before submitting the transaction. Additionally, it is important to ensure that all of the taxes are applied correctly, as incorrect taxes can lead to costly penalties or fines. 
  
  Related Information: 
  For more