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Prerequisite:
Go To: Tax Manager > Tax Configuration > Tax Regime>Home> Create First Party Legal Entity and
Establishment
1: 1.1 Check the Create First Party: Legal Entity & Establishment
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1.2:
- Enter Tax regime Code & Name the same
- Entry Regime level: Country
- Entry Effective date: old date EX: 1-Jan-2000
- Check Boxes: Allow Tax Recovery - Allow Tax Exemptions - Allow Override and Entry of Inclusive Tax
Lines
- Allow tax inclusion: standard inclusive handling
- Default recovery rate: immediate
1.3:
- Click Continue Button to Assign Party Name which is the Legal Entity Name
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1.4:
- Go To: Create Tax Authorities Party Tax Profile from (Parties TAB)
-- Choose party type: First party Legal Entity
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- Click Update Tax Profile Yellow Pencil to assign the Tax Regime Code through Configuration Option tab
Button Note you will find it already Assigned and that step for confirmation only
1.5:
- Go To: Create Tax Authorities Party Tax Profile in Home page
- Choose party type: Operating Unit Owing Tax Content
- Choose Party name: As shown
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- Go to Configuration Option Button to assign the Tax Regime code with the Operating Unit Name
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Go to Check the Tax Regime Code to verify the Configuration Option to view the
assignment of the Legal Entity Name & the Operating Unit Name to the Tax Regime
Code
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In configeration owner : choose Globale Configeration Owner to make the tax aviliable on both of legel
entity & Operating Unit
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NOTE: DOES NOT MARK ON Check Box (Make Tax Available for Transaction) till you complete the
remaining setup steps as We Going To DO
NOTE: Important Do Choose the check box ALLOW PRIMERY RECOVERY RATE determination
rules that will make duplicate tax rule and will give you error in calculation tax
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NOTE: THAT THE DEFAULT RECOVERY RATE CODE WILL BE DEFIEDN LATER SO YOU
WILL CHOOSE IT WHEN YOU ARE GOING TO FINISH AND MAKE THE TAX AVAILIABLE
Then click on TAX ACCOUNT: To determine the liability account of the tax
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Associated Juristification tax rulesConfiger it after you difine tax rate and you have to
define ti to every tax rate you will define
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Click on Apply
Click on Tax Accounts : Choose the ledger you created and enter the liability account
Click on Apply
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5.2: Go To: Tax Manager > Tax Configuration > Tax Rate
For the Non Recovery rate to make it available in tax accounts for the non recovery rate after u define it
put the AP ACCRUAL ACCOUNT
- Complete the data
- Define the tax accounts
- After Finish Click On Apply
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Insert Determining Factor Class: 'Transaction Input Factor' ( Data Entry From Your
Choose )
Insert Determining Factor Name: 'Tax Classification Code' ( Data Entry From Your Choose )
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B) Go To : Tax Manager > Advanced Setup Options > Tax Condition Set
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Enter You Tax Condition Name ( It refers To The Percentage of the Tax )
Enter Name
Choose The Determine Factor that you Made
Choose Ledger
Choose Country
Click On Continue
Choose the Value/From Range: Name of your regime And it can be Override
3- Make This Step to Assign the Rules To Every Tax Regime you Made
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Make all the rules for each application are you going to use from event class
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Taxable Basis
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After Finish this: GO to: Default and controls > Application Tax Options
To arrange the default hierarchy for the tax
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After Finish this: GO to: Default and controls > Application Tax Options
To make the Tax Available for the country Default
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Applicable users can set up taxes and related configuration data for the global
Configuration owner. Legal entities and operating units can then share the global
Configuration owner tax setups.
See: Configuration Options in Oracle E-Business Tax, Oracle E-Business Tax User Guide
For more information.
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