As for value added tax, what is the correct precision and decimal (p, s) scale for declaring SQL Server field size?

Question

I determine the VAT rates (European and other countries levy VAT) in the SQL Server database, and I wonder what ideal decimal definition captures the necessary accuracy.

I saw VAT rates :

20% (0.20) UK, Italy, Austria, etc. 21% (0.21) Belgium, Ireland, etc. 19.6% (0.196) Monaco, France 

I am curious if there are cases where the VAT rate requires more accuracy than the decimal (4, 3), where p is the accuracy and s is the scale. I have read a number of documents and am not sure that the EU or other countries have a specific VAT specification for items after ".". (or "," in their case). What to stop the UK from their VAT now 0.20111111 if they want to use some calculation based on the formula for the VAT rate instead of the fixed accuracy value?

Thank you in advance for other men and women.

Answer 1

According to the PDF document at the end of this page , you should be safe with decimal(4,3) . Although it seems that some historical cases would require accuracy 4.