Use Case Example: Tax Automation Regional

If you have configured a Tax Automation Regional Rule, then the value from the Tax Automation Rule is aggregated with the value of Other Balance Sheet Adjustments from Tax Losses Regional to Equity Automated in Temporary Differences Regional form.

  1. Set up the Tax Automation Global Reg Rule (see: Working with Regional Tax Automation in Administering Tax Reporting).

    Setting up Tax Automation Global Reg Rule

  2. Enter values for the POV used above in the Income Statement form, for example 15,000 as mentioned in the screenshot below.

    Income Statement Form

  3. Add values in Other Balance Sheet Adjustments in the Tax Losses Regional form, for example 90,000 as mentioned in the example screenshot below.

    Adding values in Other Balance Sheet Adjustments in the Tax Losses Regional form

  4. Run Consolidation. Note that post consolidation, the Equity Automated of the Temporary Differences Regional form has the aggregated value of Tax Automation rule and Other Balance Sheet Adjustments. For example: Equity Automated (105,000) = Other Balance Sheet Adjustments (90,000) + Tax Automation Rule value (15,000)

    Equity Automated of the Temporary Differences Regional form has the aggregated value of Tax Automation rule and Other Balance Sheet Adjustments