Taxes on Invoices
Oracle Fusion Payables integrates with Oracle Fusion Tax to support automatic tax calculation on payables invoices. Oracle Fusion Tax is a central repository of various tax rules and setups.
It supports different types of taxes, such as:
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Self-assessed taxes
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Recoverable and nonrecoverable taxes
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Inclusive and exclusive taxes
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Withholding taxes
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Exemptions
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Exceptions
Payables provides the tax support for US 1099 income taxes.