Posted on January 15th, 2011 by Sanjit Anand || Email This Post
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This is New Product in R12 which provides the infrastructure for transaction tax knowledge management and delivery using a global system architecture that is configurable and scalable for adding country specific tax content.
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Modules Integrated with EB Tax:
- Oracle Purchasing
- Oracle Internet Procurement
- Oracle Receivables
- Consigned Inventory
- Oracle Payables
- Oracle Intercompany Invoicing
- Oracle Order Management
- Oracle Trade Management
- Oracle Services Contracts
- Oracle Order Capture/iStore/Quoting
- Oracle Internet Expenses
- Oracle Project Accounting
- Oracle General Ledger
- Configuration Options & Provider Service Subscriptions: Users using a subscription model can share the tax setup. The owner of tax setup data is defined as a Configuration Owner and can be an Operating Unit or a Legal Entity.
- Events and Configuration Owner Options: Tax Events model allows E-Business Suite applications to map their various documents and actions across applications into corresponding tax event classes and tax event types.
- Tax Configuration Manager: This component is responsible for creating and maintaining the structural foundation of tax, the building blocks.
- Tax Determination Services: This component calculates transaction taxes based on transaction details and tax setup information.
- Centralized Tax Record Repository for Audit and Reporting
- Tax Reporting: Tax Reporting is flexible enough to provide data in a user-friendly format that allows the standard and identified country specific requirements to be met.
- Tax Simulator: This user interface help the tax manager simulate the effect of a new rule or new ‘incremental’ setup data, such as a new tax rate.
- Guided Configuration: Enables a tax manager, i.e., an expert in the domain of tax, to configure the system to meet the tax requirements in one or more countries.
- Additional Enhancements:
- Deferred Tax in Payables
- Enhanced handling of Tax on Freight
- Sales and Use Tax in procurement
- Enhanced exemptions and exceptions
- Multiple Tax Registrations
- Multiple Recovery types
- Tax reporting codes
- Cash as well as Accrual Basis reporting for tax
- Enhanced handling of Tax on Intercompany Movements