Countries and Territories
Use this window to maintain country and territory information in Oracle Financials. You cannot enter a new country or territory in this window, but you can update the name, description, VAT member state code, or address style for any of the 241 predefined countries or territories.
To adjust country or territory information:
1. Adjust any of the following four fields:
- Country/Territory. Country or territory name.
- Description. Country or territory description.
- VAT Member State Code. Member State Code for a country belonging to the European Union (EU). There are special Value-Added Tax (VAT) rules that apply to member states of the EU. If a country does not belong to the European Union, you should not enter a member state code. The following Oracle Applications use member state codes:
- Oracle Payables and Oracle Purchasing use member state codes to determine which suppliers to include in the Intra-EU VAT Audit Trail Report.
- Oracle Receivables uses member state codes to determine which customers to include in the European Sales Listing.
- Address Style. Address style data entry default for a country or territory. If you leave this field blank, the Oracle Financials default address style will be used. Oracle Financials provides the following address styles:
EU VAT Taxes
Intra-EU VAT Audit Trail Report
Defining Descriptive Flexfields