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:
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Uniformly delivers tax services to all Oracle Fusion application business flows through one application interface
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Provides a single integration point for third-party tax products and services
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Lets you configure and add country-specific tax content
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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:
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Simple and complex country-specific tax legislation
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Cross-border transactions, including exports and Intra-European Community transactions
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Intercompany transactions
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Local compliance requirements for recording and reporting
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Continual changes to tax legislation, such as:
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New taxes
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Local law changes
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Special tax rates
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Special exceptions for products and customers
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Task Lists
The Define Tax Configuration activity contains the following task lists
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Define Tax Configuration: Use these tasks to create a basic tax configuration for each of your tax regimes.
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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.