Setup Document EB - Tax

SETUP DOCUMENT

E - Business TaxAuthor

: G. Rajesh Kumar Creation Date: April 9, 2012Last Updated:

Document Ref: Finance-EB TaxVersion

: 1.0

Approvals: Krishna Das

Mini Nair Assign Tax Admin Responsibility to the user

Navigation : Tax Manager Parties Party Tax Profiles

Enter the OU and click on GO.

Click on Update Tax Profile

The following Flag should not be checked.

Important: Please note that "Use subscription of the Legal Entity" check box must not be checked. You will not be able to use India Localization if this flag is checked.

Step 2: Define Regime

Navigation : Tax Manager Parties Party Tax Profiles Tax Configuration Tab

Following regime should be defined with exact values as shown below:

Following data should be entered while defining the tax regime:

Tax Regime CodeIN-SALES_TAX

NameIN-SALES_TAX

Regime Level: Country

Country Name : India

Effective Date : current date

Set "Configuration Options" as follows:

You need to set value for "Configuration for Taxes and Rules" as "Common

Configuration with Party Overrides"

Step 3: Create Tax

Navigation : Tax Manager Parties Party Tax Profiles Tax Configuration Tab

Create a Tax with following values:

Tax Regime Code IN-SALES_TAX

Configuration Owner Global Configuration Owner and Operating Unit *

Tax SourceCreate a new tax

TaxLOCALIZATION

Tax NameLOCALIZATION

If no values exist, then click create

* This setup needs to be carried out for once at the Legal Entity level and also for EACH

Operating Unit in which you wish to use Oracle Financials for India by clicking on copy and override.

Step 4: Create Tax Status

Navigation : Tax Manager Parties Party Tax Profiles Tax Configuration Tab

Create Tax Status with following values:

Tax Status CodeSTANDARD

NameLOCALIZATION

Effective From current date

This setup needs to be carried out for once at the Legal Entity level and also forEACH

Operating Unit in which you wish to use Oracle Financials for India.

Tax status must be defined individually for each configuration owner, unlike TAXES

Step 5: Create Tax Rate

Navigation : Tax Manager Parties Party Tax Profiles Tax Configuration Tab

Create Tax Rate with following values:

Tax Rate Code LOCRATE

Rate Type Percentage

Percentage Rate 0

Effective From current date

This setup needs to be carried out for once at the Legal Entity level and also for EACH

Operating Unit in which you wish to use Oracle Financials for India (for the purpose of

creating tax rate at Operating Unit level you can use the 'copy' feature).

Step 6: Update Tax Configuration Options

Navigation: Tax Manager Parties Party Tax Profiles Tax Configuration Tab

Review Configuration Owner Tax Options, ensure they are as following:

Navigation: Tax Manager Parties Party Tax Profiles Defaults and Controls tab

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