Overview of Define Tax Configuration

Oracle Fusion Tax provides a single-point solution for managing your transaction and withholding tax requirements. The Define Tax Configuration activity lets you manage the entire configuration and maintenance of tax content.

Oracle Fusion Tax:

• Uniformly delivers tax services to all Oracle Fusion application business flows through one application interface

• Provides a single integration point for third-party tax products and services

• Lets you configure and add country-specific tax content

• Ensures control over manual intervention and update

With Oracle Fusion Tax, you can model your taxes according to the needs of the following local and international tax requirements:

• Simple and complex country-specific tax legislation

• Cross-border transactions, including exports and Intra-European Community transactions

• Intercompany transactions

• Local compliance requirements for recording and reporting

• Continual changes to tax legislation, such as:

  • New taxes

  • Local law changes

  • Special tax rates

  • Special exceptions for products and customers

Task Lists

The Define Tax Configuration activity contains the following task lists

• Define Tax Configuration: Use these tasks to create a basic tax configuration for each of your tax regimes.

• Define Advanced Tax Configuration: Use these tasks to configure optional tax setup that addresses more complex tax requirements, such as exceptions to standard tax calculations.