Hello!
Have you tried the Tax Group assigned in the charge? Usually the taxes are not applied as Charge in Mifos.
Admin --> Products --> Taxes components management
Thanks and best regards
Alberto
El 31 de marzo de 2020 a las 07:14 PM Luis Alberto Alegría de los Santos <luis.aleg...@innovar.app> escribió:
Hi all_______________________________________________
Please, someone can help me.
We require payments including VAT with equal installments, because this is easier for clients.
Example:
- Amount: 10,000
- Interest Rate: 12%
- Term: 24 months monthly payments
- VAT: 16% of interest
Normally what we do is increase the VAT percentage to the interest rate, that is, 12% * 1.16 = 13.92%.
For later when calculating the EMI amount, break down the VAT of the interest, this on repayment schedule.
In this escenario, we calculated EMI amount: Excel Formula : = pmt (13.92% / 12, 24, -10000) = $ 479.75
Taking period 1 as a reference within the normal payment schedule would be as follows:
* Interest: $ 116.00 - calculation: (10000 * 13.92% / 12)
* Principal: $ 363.75 - Calculation: EMI Amount - Interest ( 479.75 -116)
* EMI amount: $ 479.75
What we do in the final payment schedule is break down VAT dividing the interest by 1.16. In period 1, divide = 116/1.16 = 100 for interest and 16 for VATAnd it is as follows:
Repayment schedule for period 1:
# Principal Interest VAT Installment amount
1 $ 363.75 $ 100.00 $ 16.00 $479.752 $367.97 $ 96.36 $ 15.42 $479.75
In this scenario, there are equal installments amounts.
I created a loan here https://demo.mifos.io/#/viewloanaccount/3648, and added a 16% interest charge( https://demo.mifos.io/#/viewcharge/552), however the repayments are different in each period.![image.png]()
Is there some option to achieve this?
Thank you a lot!--
LSC. Luis Alegría
INNOVARAPP
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