Overview

This chapter covers the following topics:

• Introduction to Golden Tax
• Overview of the Golden Tax Adaptor

Introduction to Golden Tax

Golden Tax is one of the Golden Projects initiated by the Chinese government to modernize the information technology of that country. The Golden Tax project refers to an integrated nationwide value-added tax (VAT) monitoring system. It was launched to establish a national computerized taxation network to eliminate tax evasion by business establishments. Under this Golden Tax project, all businesses operating in Mainland China are required to use a government-certified tax software referred to as Golden Tax software for generating VAT invoices, VAT calculations, and statutory tax reporting. Chinese government policies require all businesses to issue all VAT invoices through the Golden Tax system.

The Golden Tax Adaptor application provides a seamless integration between Oracle Receivables and the Golden Tax software system. The Golden Tax Adaptor application also streamlines the process of creating VAT invoices against Oracle Receivables documents. This feature integrates with the Golden Tax software provided by the Aisino Corporation, which is the leading provider of Golden Tax software in Mainland China.

Overview of the Golden Tax Adaptor

The preceding diagram illustrates the integration of Golden Tax Adaptor with the Aisino Golden Tax System. Key points about the Golden Tax Adaptor are:

• The Golden Tax Adaptor is built on top of Oracle Receivables and Oracle E-Business Tax. The Golden Tax Adaptor is a central repository of data used by Oracle Receivables and the Aisino Golden Tax system.

• The Golden Tax Adaptor application consists of tables, a workbench, concurrent programs, and XML publisher reports.

• Receivables data for invoices, debit memos, and credit memos can be transferred to the Golden Tax Adaptor by request or periodically.

• The Golden Tax Invoice Workbench lets you manage, consolidate, and modify the data that is transferred from Receivables before you export the data.

• You can export data from the Golden Tax Adaptor to a data file. All required validations are performed at the time of export.

• You can export Golden Tax Adaptor data files into the Aisino Golden Tax system. You can then generate VAT invoices from the Aisino system and send them to customers.

• Aisino software allows you to export the VAT invoice data from its system to a data file.

• You can import the data file containing the VAT invoice data from the Aisino software into the Golden Tax Adaptor. During this import, the VAT invoice data is validated with the corresponding receivables invoice data in the Golden Tax Adaptor and then updated.

• Using the Golden Tax Invoice Workbench, you can view VAT invoice information against the corresponding receivables invoice in the View VAT Invoices window and from the Receivables Transactions window.

• Golden Tax Discrepancy and Invoice Mapping reports let you audit and report discrepancies in data between receivables and VAT invoices.

• You can use the Golden Tax Invoice Consolidation Mapping report to view the mapping between Golden Tax Adaptor invoices and Consolidated Golden Tax Adaptor Invoices.

Features

Major features of the Golden Tax Adaptor include:

• The application supports receivables transactions for invoices, debit memos, and credit memos, for both inventory and non inventory items.

• Invoice Splitting: The VAT regime in China specifies limits for the maximum amount of a single VAT invoice and for the maximum number of lines that can be printed on a single VAT. The Golden Tax Adaptor lets you set limits for your organization, and splits the receivables invoices into multiple VAT invoices in accordance with these limits.

• VAT Invoices: The enterprises in China can issue the following VAT type invoices and specify different VAT limits to them:

  • Special: when a sale is made to another organization, Special VAT invoice is issued.

  • Common: if the sale is made to an individual, Common VAT Invoice is issued.

  • Recycle: if a company that runs a recycle business, as a general taxpayer, it should issue Recycle VAT invoices to purchasers.

  You can identify the invoice type of receivables invoices when you transfer the receivables invoices to the Golden Tax Adaptor.

• Transfer Rules: Transfer rules help you define the criteria for selecting the receivables data that must be transferred to the Golden Tax Adaptor. Transfer rules simplify the process of transferring receivables data to the Golden Tax Adaptor. When you transfer receivables data to the Golden Tax Adaptor, you can use your specific transfer rule instead of specifying all parameters. You can define a rule according to your specific selection criteria.

• Sales List Invoices: A sales list is a document that accompanies the VAT invoice and contains the details of the line items for which the VAT invoice is issued. When a sales list accompanies a VAT invoice, all detailed line items do not have to be included on the VAT invoice. Instead, you can print a summary line on the invoice and refer to the sales list for details. When a sales list is issued, receivables invoices do not need to be into multiple VAT invoices. The Golden Tax Adaptor supports this functionality when the limit on the sales list maximum number of lines is not enforced.

• Golden Tax Invoice Workbench: You can use this workbench to:

  • Edit receivables data in Golden Tax Adaptor before you export the data.

  • Generate the data file.

  • Control invoice status.

  • Consolidate multiple Golden Tax Adaptor invoices.

• Status Control: Status control is enabled in the Golden Tax Adaptor to ensure data consistency. Once the data is exported from the Adaptor, you cannot modify it in the workbench. However, once the Golden Tax Adaptor invoice is consolidated into a consolidated Golden Tax Adaptor invoice, you cannot modify it in the workbench, unless the consolidated Golden Tax Adaptor invoice is deleted or unconsolidated.

• Consolidate Multiple Golden Tax Adaptor Invoices: To generate a single VAT invoice, you can consolidate multiple Golden Tax Adaptor invoices into a consolidated Golden Tax Adaptor invoice.

• VAT Invoice Tracking: You can track VAT invoices from the Receivables Transactions window. You can also track VAT invoices in the Golden Tax Invoice Workbench and View Vat Invoices window.

• Additional VAT Attributes: Chinese VAT regime classifies items by Item Model and Tax Denomination. These attributes are mandatory for generating VAT. You can configure the Inventory Item or Receivables Line Transaction flexfields to define these attributes.

• Item Cross-References: You can use item cross-reference functionality from Oracle Inventory when the description to be printed on the VAT invoice is different from the internal item description.

• Auditing and Reconciliation: The application provides a discrepancy report that helps you identify the data discrepancies between Oracle Receivables and the Aisino Golden Tax System.

• Master Data Export: The application provides support for exporting your item and customer master data to the Aisino Golden Tax System.

• Purging: You can purge data from the Golden Tax Adaptor tables to minimize the data load and improve system performance.