Oracle Applications

Oracle for Beginners

Tax Configuration: Create Tax Regimes

Posted by shameemakhtar on October 3, 2009

Platform: R12

Create Tax Regimes
Tax Manager –> Tax Configuration –> Tax Regimes

TaxRegimes

TaxRegimes

Click on ‘Create’.

Tax Regime - Main Details

Tax Regime - Main Details

Expand the ‘Controls and Defaults’ Region and Configure.

Tax Regime Controls and Defaults

Tax Regime Controls and Defaults

Note that unless you have set the Legal Authority as Reporting Tax Authority or Collecting Tax Authority while creating the Party Tax Profile for the Legal Authority, the Legal Authority will not be available in the drop down list.
See Document ’E-Business Tax Configuration – Tax Authority Party Tax Profile’
Expand the ‘Compounding Level Controls’ region and Configure.

Tax Regime Compounding Level Controls

Tax Regime Compounding Level Controls

When you are done, click on ‘Continue’.

Create Tax Regime - Configuration Option

Create Tax Regime - Configuration Option

Add your First Party Legal Entity. Choose your ‘Configuration for Taxes and Rules’. If you are not using Common Configuration, specify your ‘Configuration for Product Exceptions’. Specify an effective date. US localizations require Service Subscriptions. Click on ‘Service Subscriptions’ to add Service Provider.

Service Subscriptions

Service Subscriptions

When you are done, click on ‘Finish’.

Tax Regime Creation Confirmation

Tax Regime Creation Confirmation

You will get a confirmation that the tax regime was created successfully.
You can search and see that the Regime has been created.

Search Tax Regime

Search Tax Regime

Shameem Bauccha

1 July 2009

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