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Planview Customer Success Center

How to activate a new tax rate as of a target date?

The VAT rate will change on a specific date. How to activate a new tax rate as of this target date, based on a product category or product?  


You can create a new tax rate and tax schedule with the new rate, and activate with an effective date so that from that date on the new rate is applied, provided that you select the appropriate work location.

For example, for a particular product category and/or a product, Sep 13 is configured as effective date of the new tax schedule, in Product Taxation Setup:

The same bill-to location is selected also on the engagement:
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With this configuration, when creating an invoice for the product, the tax rate will change depending on the invoice date. E.g. for Sep 12 it will be the old tax rate, and as of Sep 13 it will be the new tax rate.