1. Using Financials for Asia/Pacific
  2. Overview of Configuration of Withholding & Value Added Tax for Bangladesh

Overview of Configuration of Withholding & Value Added Tax for Bangladesh

Here is the broad overview of implementation considerations for configuring Bangladesh Withholding Tax (WHT) and Value Added Tax (VAT) requirements in the Procure-To-Pay (P2P) Cycle.

Withholding Tax Certificate is a report that a company issues to its suppliers as evidence that the tax was withheld from payments made to them.You'll learn how to configure the requirements of Bangladesh on WHT and VAT in P2P cycle in Oracle ERP Cloud.

This section provides different approaches for mapping requirements of Bangladesh on Withholding tax and VAT without a challan.

You must get familiarized with the solution capabilities of configuring country-specific requirements with global capabilities offered in Oracle ERP Cloud. The documents listed below help buid a broader understanding of configurable solution capabilities that the tax engine of Oracle ERP Cloud offers in mapping the tax requirements based on country-specific needs.

Follow these steps to configure Fusion Tax & troubleshooting:

  • Fusion Tax Resolution Flow (Doc ID 2399874.2)
  • Global Withholding Tax: Case Study: Manage Withholding tax Compliance in Oracle ERP Cloud (Doc ID 2449552.1)
  • India Withholding Tax: Checklist for Configuring Withholding Tax for India (Doc ID 2450683.1)
  • Legal Reporting Unit (LRU): How to Configure Legal Reporting Units as per the Business Requirement (Doc ID 2678661.1) and Reference Note: 2492641.1
Before setting up a transaction tax for Bangladesh, you must set up these entities:
  • Data Security

    Assign the predefined Tax Manager Job role to the user. For more information on predefined job roles, see Oracle Applications Cloud Security Reference for Common Features guide.

  • Enterprise Structure

    Model your enterprise to meet your legal and management objectives. For more information on configuring enterprise structures, see ‘Using Rapid Implementation Spreadsheets’ chapter in Getting Started with Your Financials Cloud Implementation guide.

  • Common Setups for Payables, Purchasing, and Landed Cost Management

    For more information on implementing Oracle Financials Cloud, see ‘Getting Started with Your Financials Cloud Implementation’ guide and the Oracle Supply Chain Management Cloud.

  • Cost Accounting Method

    See Oracle Fusion Applications Procurement, Cost Accounting and Receipt Accounting Implementation guide.