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Major Features (Multiple Tax Distribution)

Oracle Financials for Canada provides the following features:

Multiple Taxes

Multiple Taxes lets you define, handle, and maintain multiple sales tax, including side-by-side and compound tax calculations.

Self-Assessed Taxes

Self-Assessed Taxes provides self-assessed tax handling that can be dealt with by defining a formula which includes a use tax. The formula directs the tax to the appropriate tax authority General Ledger account.

Multiple Rebates /Input Tax Credits (ITC)

You can break out tax values by assigning percentages for Input Tax Credits and rebates which lets Multiple Tax Distributions apportion out the amounts to the appropriate General Ledger accounts.

Online Invoice Entry

The tax calculation on the invoice depends on the General Ledger account and rebate combination that is used. You can override a rebate at line level. You can immediately view the tax distribution either with online approval or after batch processing.

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