5.2.18 Tax Details

At the drawdown level, tax is applicable only on the interest and fee component.

Specify the User ID and Password, login to Homepage.

From the Homepage, navigate to Drawdown Contract Detail screen.

1. From the Drawdown Contract Detail screen, click Tax.
   The Tax Details screen is displayed.

   Figure 5-25 Tax Details

   
   

   
   Description of "Figure 5-25 Tax Details"

   
   
2. The Tax Details screen displays the tax rule details associated with the drawdown product.
   You can view both borrower and participant tax details associated with the drawdown.

   You can waive the subsequent tax that is applied for a borrower/participant and tax rule combination.The system passes the entries for tax based on the event you specify in the Product Tax Linkage screen.

   Typically, tax on fee is calculated upon liquidation of the fee (event FLIQ is associated with the rule) while tax on interest is computed on interest liquidation (event LIQD).