What is Tax Structure in US, we set-up in E-business Tax of R-
12 or 11i?
Answers were Sorted based on User's Feedback
United States uses SALES and USE Tax. Taxes are applicable at Federal, state level, county level and city level. In EBusiness Tax, We need to create Regime to Rate setup.
1. Create a Regime - In this case, we can create one regime for US
2. Create Taxes. We can create different taxes for Federal, State, County and City. In this setup, control defaults are defined.
3. Create Jurisdictions for each Tax. For state tax, all the states in US will be jurisdictions.
4. Create Tax status and Tax rates.
5. Create Rules. Here we create the on what conditions, the rates are applicable. Ex. Based on bill to customer, balancing segment, etc
Note: In Oracle Fusion, there is a functionality called "Simulation" which can be used to test the tax setup. Once satisfied, we can enable the tax setup for actual transactions.
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / srinivas
We can use ebt for tax. In 11i don't have tax.
Is This Answer Correct ? | 0 Yes | 2 No |
Can I increase/decrease the size of value set?
What could be the probable reason for Not Showing the Taxes in Project Draft Invoices?
what is legacy system
r there any setups to enable budget tab while entering journals
Can we use AME for PO approvals ?
What is the difference between 11I AND R12?
how to load ap invoice from legacy to our system and should show the paid invoice as paid and un paid as unpaid
What is the use of Cost center
What in Invoice Variance in A.P.
Describe the key configuration decisions you would need to undertake when implementing the cash management module?
What is Tolerance?
Difference between header level tax calculation and line level tax calculation?