CA-AGB-Philippines-Localization Blueprint

Localization Business Blueprint for AGB-
Philippines
The Nielsen Company
SAP Finance Globalization

Localization Business Blueprint for
AGB-Philippines
July 2010
Version 1.0
Nielsen Confidential
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Philippines
DOCUMENT RELEASE NOTICE

Notice No.:
Customer: ABG NMR (Philippines) Inc.
Project: Financial Transformation
Document details:
Name
Version No.
Localization Blueprint for

AGB-Philippines
1.0
Description
Localization Blueprint for
AGB-Philippines
Revision details:
Action taken
(Add/del/chg)
Preceding New
Revision
Page No. Page No. Description
Authorized by:
Date:
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Philippines
Abbreviations and Acronyms

The following abbreviations and acronyms have been used in this document:
Abbreviation/Acronym
Description
AA
Asset Accounting
ABAP
Advanced Business Application Programming
AP
Accounts Payable
APC
Acquisition & Production Costs
AR
Accounts Receivable
AUC
Asset Under Construction
BDC
Batch Data Communication
BU
Business Unit
CI
Cleared Items
CO
Controlling
CWIP
Capital Work In Progress
EWT
Extended Withholding Tax
F&A
Finance & Accounts
FA
Fixed Assets
FI
Financial Accounting
FSV
Financial Statement Version
GAAP
Generally Accepted Accounting Principles
G/L
General Ledger
HR
Human Resources
ISO
International Standards Organization
MIS
Management Information Systems
MM
Materials Management
P&L
Profit & Loss
PCA
Profit Centre Accounting
PS
Project Systems
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Philippines
QC
Quality Control
SAP
Systems, Applications and Products
SD
Sales & Distribution
SLM
Straight Line Method
PHP
Phillipino Peso
USD
US Dollar
VAT
Value Added Tax
WBS
Work Breakdown Structure
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Contents
LOCALIZATION FOR AGB-PHILIPPINES..................................................................
REQUIREMENTS / EXPECTATIONS.............................................................................6
GENERAL EXPLANATIONS..................................................................................................6
EXPLANATIONS OF FUNCTIONS AND EVENTS........................................................6
SPECIAL ORGANIZATIONAL CONSIDERATIONS....................................................................7
CHANGES TO EXISTING ORGANIZATION PROCESSES...........................................................7
DESCRIPTION OF IMPROVEMENTS......................................................................................8
MASTER DATA:.................................................................................................................8
SOLUTION IN SAP............................................................................................................9
DESCRIPTION OF FUNCTIONAL DEFICITS..........................................................................20
APPROACHES TO COVERING FUNCTIONAL DEFICITS........................................................20
INTEGRATION/INTERFACE CONSIDERATIONS......................................................................20
REPORTING REQUIREMENTS............................................................................................21
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LOCALIZATION FOR AGB-PHILIPPINES

REQUIREMENTS / EXPECTATIONS
Objective of the SAP Finance Globalization initiative is to have robust business
processes which can be implemented universally across the Nielsen group. However,
these global processes need to be adapted keeping in mind the following aspects of
localization applicable to each country:
Language
Local standards (Decimal Notation, Date Format, )
Cultural norms (Doc. in local language)
Legal requirements
GENERAL EXPLANATIONS
In order to meet regulatory and statutory requirements for Philippines, Nielsen global
processes will be adapted as such; the impact of the following areas will be covered
below from localization perspective:
Country specific controls

o
General Controls
Local Chart of Accounts
Handling of Multiple GAAPs
Specific Master Data controls
Asset Accounting
Taxation
Banking
Language requirements
Reporting requirements
EXPLANATIONS OF FUNCTIONS AND EVENTS

Country Specific Controls
Each country has certain standards/cultural norms/ legal requirements which are
different from other countries. This may include amongst other things date format,
decimal format, Postal code, currency etc. These aspects are part of country localization.
Therefore Global Processes need to be adapted keeping in mind the localization
requirements for respective countries.
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Philippines
Asset Accounting
Local laws (GAAP) and taxation requirements govern the valuation and depreciation
requirements which are in addition to the Global GAAP requirements. Though global
business processes will be adopted by each entity yet these local aspects would need to
be considered for any impact on Asset Valuation/ Depreciation.
Taxation
Tax laws vary from country to country which means no standard process can be adapted
for tax processing globally. Since all aspects of taxation whether chargeability or
reporting varies at country level, due consideration is given to these aspects. There are
various types of taxes involved like Input/output tax, Withholding tax, Final Tax,
Expanded Withholding Tax. Tax which would be charged on the entitys Profits is not in
scope. Corporate Income Tax, Deferred Income Tax - Asset, Deferred Income Tax
Liability, Payroll Tax would also not be in scope. These have to be handled manually
outside SAP.
Banking
This component is used to handle accounting transactions in relation to banks. It
includes the management of bank master data, cash balance management (check and
bill of exchange management), and the creation and processing of incoming and
outgoing payments. It is possible, to define all country-specific characteristics, such as
the specifications for manual and electronic payment procedures, payment forms or data
media.
Reporting
Reporting needs vary from country to country owing to differing statutory and regulatory
requirements. These reports could be required for taxation/statutory/regulatory
authorities or relates to banking set up.
SPECIAL ORGANIZATIONAL CONSIDERATIONS

None
CHANGES TO EXISTING ORGANIZATION PROCESSES

Asset:
Henceforth all fixed assets acquisition and retirements and depreciation calculation
would be accounted and calculated in SAP.
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Taxation:
Tax calculation is based on Tax codes defined in SAP. Reporting would be based on Tax
codes
Payroll Account Postings:
Payroll process should change to post the data directly in SAP through upload via payroll
interface. A new payroll account postings upload format will be used to upload account
postings to SAP.
Accounts Payable:
Vendor invoices would be directly entered into SAP directly.
DESCRIPTION OF IMPROVEMENTS
Asset:
SAP Asset Accounting provides for the configuration of individual Depreciation Areas to
meet the needs of Asset Valuation in line with multiple GAAPs. Based on the
configuration parameters defined in the system via Depreciation Keys, SAP will calculate
the values for the specific depreciation areas, thus meeting the requirements for multiple
GAAPs. Also it provides for inflation accounting in Assets which will take care of the
country requirement.
Banking:
Bank statement should be in either MT 940,BAI2 or any other SAP uploadable format for
automatic bank reconciliation. If the format is not available/is not supported by the bank
then reconciliation would be performed manually and outside SAP.
Master Data:
A centralized and unified master data which will allow the business units to view / share
customers, vendors, etc. across the region and globally.
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SOLUTION IN SAP
Country specific controls
General Controls
The following are the general controls applicable to Philippines:
Language key is EN
ISO code is PH
Postal code length is 4 digit
Tax number is 000-284-017-000V
Decimal format 1,234,567.89(rounding off to 2 digits)
Date format is MM.DD.YYYY
Country currency is PHP (Philippines Peso)
Company Code
Philippines will have following Company code
CoCode
1892
CoCode Name (Short)

AGB NMR Philippines, Inc.
Local Chart of Accounts

The Global Chart of Accounts meets all Philippiness specific mandatory statutory local
requirements. Local Chart of Accounts is not required to be defined for Philippines.
Financial Statement Versions
One Financial Statement Version at global level is available to meet the global
requirement. In order to cater to the Country specific reporting requirement for
Philippines, separate financial statement version has been created.
Handling of Multiple GAAPs
There is no requirement for maintaining additional ledgers apart from US GAAP. Hence
there would be one ledger which would be in line with US GAAP viz.
Ledger 0L for US GAAP
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Philippines
Foreign Currency Valuation

Foreign currency translation at transaction level would be driven by the System rates viz
corporate rates maintained or can be entered by the users manually at the time of
transaction. For Client billing, the average global rates would be used. For Revenue
recognition the average global rates would be used.
Year end valuation needs to be done at government provided rates for preparing
financial statements. Monthly revaluations will be done using the corporate rates.
Separate Foreign Currency Valuation Method would be created which would valuate the
foreign currency open items for the Year end at government provided rates. However,
revaluation at government rates would be done only if there high fluctuation from the
global rates.
Specific Master Data Controls:
Following Master Data controls will be required:
Accounts Receivable and Accounts Payable Master Data
TAX ID NUMBER Tax Number 1 where the VAT registration number of the
Vendor/Customer would be provided.
The credit period for Vendors and Customers can be maintained in SAP
according to the agreement with vendors and customers.
Vendor advance payments are applicable and hence Special GL indicator

which is provided at global level can also be used for Philippines. However,
as per the global process Customer advance payments would not be
managed through Special GL indicator and would be accounted as On
account payment.
Bank Master Data

In PHILIPPINES, the Bank account number length is of 10 - 13 digits and the SWIFT no
is of 8 characters.
Asset Accounting
The Nielsen Companys (TNC) Asset Accounting processes have been defined at a
global level which will be implemented uniformly across the Nielsen Group.
In order to meet requirements for differing carrying amounts/ depreciation terms, a Chart
of Depreciation will be defined at the country level which will be assigned to all Company
Codes within that country.
A Chart of depreciation will be used to manage legal requirements for the depreciation
and valuation of assets (through Depreciation Areas). Each depreciation area represents
a specific type of valuation.
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Philippines
For Philippines, the CoD will have the following depreciation areas:
Depn. Area
Depreciation Area Description
Ledger Assignment
01
US GAAP Valuation Area
0L
31
Group Currency Valuation Area
Note:
In Asset Accounting, there will be multiple depreciation areas that can be set up to cater
to the parallel ledgers in the General Ledgers.
Key points to consider are:
The leading ledger (US GAAP) will be assigned to depreciation area 01.
The beginning and end of the fiscal year in Asset Accounting will be identical to the
ledger in general ledger accounting because the depreciation values in the G/L
accounts would otherwise be mapped incorrectly.
For Low Value assets (LVA) the value is recorded at nominal value and depreciated
over one month.
In Financial Accounting, in addition to the local currency of the company code, USD will
be defined as the parallel currency, which is the currency used in consolidated financial
statements. By doing so, the asset values will be updated in Financial Accounting in
parallel in USD as well in the same accounting document as the amount posted in local
currency.
Since the settings of the company code are transferred for the leading ledger, the leading
ledger is also managed in these parallel currencies as well as the local currency in this
case.
Depreciation calculation for assets is controlled by Depreciation key which is specified at
the Depreciation area level in Asset Master Record.
In US GAAP depreciation is calculated on monthly basis. For acquisition the depreciation
starts from the month after purchase and for disposal, the depreciation ends the month
before the sale/disposal of the asset. Depreciation calculation for Philippines would be in
line with that for US GAAP.
The following depreciation keys will be defined at the chart of depreciation level:
Additional Depreciation Key would be configured to track the Low value asset. This
would have 100% depreciation charged on the month of Purchase. This is to cater to the
requirement to track the low value asset. For purchase of the low value asset, this
depreciation key would be attached which would depreciate the asset during the month
of purchase.
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Depn. Depreciation Key
Depreciation Calculation
Depreciation Calculation
Key
01PH
Description
method
Depreciation Key for Straight Line Method
Frequency
Monthly
02PH
US GAAP Area
Depreciation Key for Straight Line Method
100% Depreciation during
Low Value Asset
the month of Purchase.
Requirement for Asset Accounting:
Pls refer to this file.
AGB NMR Phils_FA Fixed Assets List

Lapsing Report 2009.xls
Taxation
Introduction
In Philippines, the tax procedure applicable is TAXPH.
In Philippines, VAT applies on the supply of goods and services.
VAT - Overview
Value added tax or VAT, is broadly a consumption based tax chargeable on all
public and private consumption, i.e. on goods and services supplied to the
consumer.
In the case of imported Goods or services, there would be no VAT applicable on
the import value of goods.
For import of software the VAT is applied on the total amount i.e., the VAT is
added to the invoice amount and claimed with government. This VAT is also
eligible to be claimed as adjustment against other normal VAT sales. The VAT
paid to the government on the import of the Software would be reported as
Output VAT and the credit available against the import is reported as Input VAT.
These tax codes would be input manually during the entry of the Vendor invoice
and would be available in the report.
Goods exported abroad or sold to other countries will be subject to 0% value
added tax if the remittances of invoices are foreign currency.
Input Tax
An Input tax is a tax that is charged by the vendor on purchases of goods/services
rendered.
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VAT applies to the following transactions
The supply of goods or services made in Philippines by a taxable person;

The importation of software from outside Philippines.
In Philippines, the following rate of VAT currently apply:
The standard rate at 12% should have the option to change in the future
Input Tax (also known as Credit VAT) is usually recovered by being deducted by output
VAT tax (also known as Debit VAT) which is VAT charged on services and sales sold.
Example:
When posting an incoming invoice with the sum of PHP 1,000 and with the tax amount of
PHP 12% (12% percent tax), the following entry gets posted:
Entry while acquiring service
Account
Expense
Input tax
Vendor
Debit
Credit
1000
120
1120
Brief classification of the Input Tax to be reported are as follows:

1. Domestic Purchase of Services
2. Purchase of Capital Goods amounting to PHP 1 Million and above (Aggregation
of monthly purchase of Capital Goods)
3. Purchase of Capital Goods amounting to less than PHP 1 Million (Aggregating of
monthly purchases of Capital Goods)
4. Software imported from foreign countries.
All the above transactions are VAT relevant at the rate of 12%. The credit can be claimed
for all the transaction(Please refer Deferred input tax of exceptions) at the time of
accounting of Input tax.
Output Tax
An Output Tax is a tax levied on sales of goods/services to customers. Output tax
represents a tax liability.
Brief classification of the Output Tax to be reported are as follows:

1. Domestic Sales of Services 12%
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Philippines
2. Zero rated sales(Export sales)

3. Exempt VAT Sales
The liability for Output tax arises at the time of receipt of amount from the Customers.
Example:
VAT:
12%
Entry while selling service

Account
Debit
Customer
Revenue
Output Tax
Credit
1120
1000
120
Deferred Input Tax

Input tax claimed is deferred on purchase of Capital Goods if aggregate amount
for the month is PHP 1 Million and above. The VAT credit can be claimed for 5
years or the life of asset whichever is less.
Scheme of entries accounting of deferred input tax.
Once the capital goods purchase is done, the input VAT pertaining to the
purchase of capital goods would be charged to the Input VAT account.
Account
Debit
Fixed
Asset
Holding
Input VAT
Vendor
Credit
1000
120
1120
This would be capitalised as deferred Input Tax asset after transfer to Fixed asset
holding account. The Capitalisation would happen only if the aggregate amount
of purchase of fixed asset during the month is PHP 1 Million and above.
Account
Debit
FA Holding
Input VAT
Account
Intangible Asset
Credit
120
120
Debit
Credit
120
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Philippines
FA Holding
120
The above Intangible asset in the Philippines financial statements would be

shown under the head deferred Input VAT.
Monthly amortisation would be run and would be charged to Profit and loss
account.
Account
Amortisation
Expense
Intangible Asset
Credit Availed
Debit
Credit
120
120
There would be a monthly transfer from the Profit and Loss account to the Input
VAT account.
Account
Input Tax
Amortisation
Expense
Debit
Credit
120
120
The following would be the tax code with tax rates that would be provided. In case of any
legal change in %, we have an option of changing it in SAP through Support Control
process.
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Tax
Description
Nature of VAT
Percentage
Deductible or Non
12% Output VAT
Output Tax
12%
Deductible
Deductible
12% Deferred VAT
Deferred Output Tax
12%
Deductible
0% Export VAT
Output Tax for Exports
0%
Deductible
Output Tax Non Exports
0%
Deductible
exports
Output VAT Exempt
Output Tax Exempt
Exempt
12% Input
Input Tax
12%
Deductible
12% Input on Capital
Input Tax
12%
Deductible
Goods
12% Input on Capital
Input Tax
12%
Deductible(Deferred
Code
Output
VAT
Goods
PHP
0%
amounting
1
Million
Non
to
credit)
and
above.
12% Input tax applicable
Input Tax
12%
Deductible
for Non Residents
Reporting of VAT is done monthly and quarterly using Form BIR 2550-M & 2550-Q. The
data is encoded in Government Software and filed with a file enclosed in the EFPS
(Electronic File payment system). There is a requirement to develop this file which is
output from the Government Software.
Withholding Tax
In Philippines, tax is required to be withheld on the following:
Rates of Withholding taxshould have options for non-standard withholding tax rates, e.g.
utilities (electricity)
Expanded Withholding Taxes from Nielsen Payment to
Suppliers
Goods
Services
Rental
Consultant, total contract < P750k p.a.
Consultant, total contract > P750k p.a.
Final Withholding Taxes from Nielsen Payment to
Suppliers
Dividend payment(Singapore Parent Company)
Payment to non-resident individual not engaged in
business
Final tax foreign, without tax treaty/ITAD ruling
Final tax foreign, without tax treaty/ITAD ruling(Royalty
agreement with US)
Rate(%)
1%
2%
5%
10%
15%
Rate(%)
15%
25%
30%
10%
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Philippines
Expanded Withholding Taxes from Client Payment to
Nielsen
Services
Consultant, total contract < P750k p.a.
Consultant, total contract > P750k p.a.
Rate(%)
2%
10%
15%
For WHT on Consultants (both Vendors & Customers) separate WHT types would be
defined for 10% (< P750k p.a.) & 15% (> P750k p.a.). Business would have to select the
respective WHT types in Vendor/Customer master based on applicability
WHT receipt on dividend since is below the line cannot be calculated by SAP and would
be accounted manually.
During Vendor invoicing WHT are accounted for at the time of recording of invoice. WHT
is deducted by customers at the time of payment to Nielsen. Accounting for WHT for
Customer is done at the time of receipt of Payment by Nielsen.
Example:
Withholding Tax rate: 2%
Input VAT: 12%
During Vendor invoice posting.
Account
Debit
Credit
Expense
VAT Input Tax
WHT Payable
Vendor
1000
120
20
1100
Example:
Withholding Tax rate: 2%
Output VAT: 12%
During Customer Invoice posting.
Account
Debit
Customer
Output VAT
Revenue Holding Account
Credit
1120
120
1000
During Accounting for Customer Receipts.

Account
Bank
WHT Receivable Account
Debit
Credit
1100
20
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Philippines
Customer
1120
WHT Certificate would be issued to the Vendor by the business. Certificate would be
printed from SAP. Hence the certificate would be developed and would be used for
printing. Form 2307 would be issued to Vendors. The Certificate can be printed either on
a quarterly basis or per invoice.
Monthly Return for Withholding taxes is submitted through EFPS (Electronic File
payment System- The official website of the government). This would be continued after
moving forward in SAP. The data for encoding the file would be provided from SAP.
Withholding tax codes not available would be created on need basis after due scrutiny.
Official Document Numbering

In Philippines, The format and number series of the invoice is approved by local
authorities.
The vendor pre-numbered invoice number needs to be captured in reference.
Official document number is relevant only for Invoice and Credit memo documents.
Official Receipt
Official Receipts are issued to Customers for payments by Transfer, Cheque and Cash.
This at present is filled in manually and would continue to be issued manually. The
Official Receipt number which is issued to the Customer would be stored in the reference
column of the receipt document. The format and number series of the official receipt is
approved by the local tax authorities.
Banking
Banking includes management of bank master data, creation and processing of incoming
and outgoing payments, Bank Reconciliations etc . It is possible to freely define all
country-specific characteristics, such as the specifications for manual and electronic
payment procedures, payment forms, or data media (DME).
Master Data
House Banks (banks at which legal entities holds its accounts) will be created in the
system in order to run the payment program and to enable the upload of electronic bank
statements. The House Banks will be defined under a House Bank ID.
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Philippines
In addition to the bank details, the actual accounts that legal entities have at its Bank will
be defined. An Account ID, which is unique per house bank, will be defined.
There are 3 master records relating to Bank Master.
1) Bank Key: Defined at client level which contains address of the Bank account.
2) House Bank: This is the Bank Branch which is attached to Bank key.
3) Account ID: This is the type of account you maintain for combination of Bank key
and House bank.
AGB NMR Phils_Bank

Account Details.xls
The following are the list of House Bank accounts

pls use this file for
AGB NMR Philippines, Inc. Listed below is for the Nielsen Philippines.
Entity
AGB NMR
(Philippines) Inc
TYPE
Bank
Account Number
SWIFT CODE
Currency
PHP
Payment Methods
Incoming Payments: Cheques, Wire transfers, Domestic transfers
Outgoing Payments:
Transactions are encoded directly in bank's HSBCNet for foreign vendors and
affiliates. For tax payments, it is encoded directly to EFPS (Electronic Filing &
Payment System of government for local tax payment) which links automatically
to designated bank account for tax payment.
Domestic Payments are made through Cheques.
Payment by Cheques
Payments are made by cheques also. Pre-numbered cheques are available which are
used for making payments. Cheques at present are printed by the business. However,
business would change the process to printing of cheques by HSBC bank. This being the
case the file would be uploaded into the HSBC portal for them to print the cheques.
Hence this file which would be uploaded into HSBC portal would be developed from SAP.
If the process change does not happen within the migration to SAP, the cheques would
be issued manually and cheque number would be recorded in SAP.
Bank Reconciliation Process

Presently, Bank reconciliation has been done manually.
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Philippines
It has been proposed that Electronic Bank reconciliation would be done through SAP,
unless the bank provides the statement in MT940 or BAI2 format. Else manual bank
reconciliation will be done outside SAP.
Petty Cash Journal

There is a need to have petty cash journals. Petty Cash Journals are needed to be
maintained in PHP. Cash advances are given to employees up to a maximum of 1000
PHP.
Transaction handled through Petty Cash are:
Payments
1. Advances to Employees/Surveyors
2. Office Expenses(available for input with VAT)
Receipts
1. Replenishment of Petty Cash from Bank
2. Excess Cash returned by Employees/Surveryors
DESCRIPTION OF FUNCTIONAL DEFICITS

None
APPROACHES TO COVERING FUNCTIONAL DEFICITS

None
INTEGRATION/INTERFACE CONSIDERATIONS
INTEGRATION REQUIREMENTS
These have been covered in Global Business Blueprints for respective Modules
INTERFACE REQUIREMENTS
Taxation:
A file for input and output tax VAT return filing which needs to be filed in government
EFPS site has to be developed.
WHT Certificate issued to Vendors needs to be printed from SAP. Hence Certificate
needs to be developed. Form 2307 is the form available that would be developed and
would be printed and would be issued to Vendors.
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A file for both Customer and Vendor Withholding taxes has to be developed for uploading
in the government EFPS site. This is presently done manually and a separate file has to
be developed for this.
Banking:
No specific requirement.
Payroll Account Postings:
For payroll postings update into GL accounts the details would be provided in SAP
upload format and the same will be uploaded in SAP.
Accounts Payable:
Invoices will be entered manually and tax calculation will be performed in SAP. Interface
requirement such as Operational Performance and Management System is out of scope
of this implementation.
REPORTING REQUIREMENTS
Taxation and Other Reporting:
S.No
1)
2)
Reports
Requirements
Return for Tax on Sales
and Purchases
Generic Withholding
Tax reporting
Language
English
Requirement will be met by

SAP Standard Report
English
SAP Standard Report
No other development needed for reporting requirements and hence the standard global
reports would be used.pls refer to various taxation forms submitted
Note:
For Philippines, all the standard reporting requirements would be in English language.
Dunning, Customer Account Statement and Customer Ageing report would be in English
and there would be no requirement for additional developments for these reports.
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Доступные форматы

Localization Business Blueprint for AGB-

The Nielsen Company

SAP Finance Globalization

Localization Business Blueprint for AGB-

DOCUMENT RELEASE NOTICE

Localization Blueprint for

Localization Business Blueprint for AGB-

Abbreviations and Acronyms

Advanced Business Application Programming

Acquisition & Production Costs

Asset Under Construction

Batch Data Communication

Capital Work In Progress

Extended Withholding Tax

Finance & Accounts

Financial Statement Version

Generally Accepted Accounting Principles

International Standards Organization

Management Information Systems

Profit & Loss

Profit Centre Accounting

Localization Business Blueprint for AGB-

Systems, Applications and Products

Sales & Distribution

Straight Line Method

Value Added Tax

Work Breakdown Structure

Localization Business Blueprint for AGB-

Localization Business Blueprint for AGB-

LOCALIZATION FOR AGB-PHILIPPINES

Country specific controls

Local Chart of Accounts

Handling of Multiple GAAPs

Specific Master Data controls

EXPLANATIONS OF FUNCTIONS AND EVENTS

Localization Business Blueprint for AGB-

SPECIAL ORGANIZATIONAL CONSIDERATIONS

CHANGES TO EXISTING ORGANIZATION PROCESSES

Localization Business Blueprint for AGB-

Localization Business Blueprint for AGB-

CoCode Name (Short)

Local Chart of Accounts

Ledger 0L for US GAAP

Localization Business Blueprint for AGB-

Foreign Currency Valuation

Vendor advance payments are applicable and hence Special GL indicator

Bank Master Data

Localization Business Blueprint for AGB-

Depreciation Area Description

US GAAP Valuation Area

Group Currency Valuation Area

Localization Business Blueprint for AGB-

Depn. Depreciation Key

100% Depreciation during

Low Value Asset

the month of Purchase.

Requirement for Asset Accounting:

Pls refer to this file.

AGB NMR Phils_FA Fixed Assets List

Localization Business Blueprint for AGB-

VAT applies to the following transactions

The supply of goods or services made in Philippines by a taxable person;