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Overview (VAT and Investment Tax Calculation)

The Norwegian investment tax does not use the VAT calculation handling in Oracle General Ledger; instead Oracle Payables and Oracle Receivables make all tax calculations. You should know how to post to General Ledger, however, in case you need to make corrections.

Oracle Payables and Oracle Receivables automatically create the tax line distribution of an invoice that you want. When you select a tax code for the invoice, Oracle Financials enters the tax lines with the Accounting Flexfield and amount.

The investment tax functionality relies on the Investment Tax window to define all valid VAT code segments in Accounting Flexfields and invoice line tax codes.

Use the Investment Tax window to set up investment taxes in Oracle Payables. See Defining Investment Taxes for more information.

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