Overview (Defining Latin Tax Rules)


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Overview (Defining Latin Tax Rules)

Use the Tax Rules window to define the hierarchy for applying tax codes to a transaction line. When searching to apply a tax to a transaction line, Oracle Receivables looks at the first rule in the hierarchy for the particular combination of tax category, contributor type, and transaction type. If this rule does not apply, Oracle Receivables looks at the second rule, and so on until it finds the correct rule to apply.

You can define two types of hierarchy:

For Rule Level = Base, define a hierarchy to search for tax rates to apply to the tax base amount

For Rule Level = Rate, define a hierarchy to search for tax codes to apply to the transaction taxable amount

You can define as many rules as you want for the tax.

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