5.2.19 Viewing Drawdown Tax Details

You can collect withholding tax on the fee/interest collected by the participants of a drawdown. However, tax is not applied on the fee collected from the participants. The tax details, if applicable for the participant product (linked to the drawdown through the facility product) is applied on the drawdown.

Specify the User ID and Password, login to Homepage.

From the Homepage, navigate to Drawdown Contract Detail screen.

From the Drawdown Contract Detail screen, click Tax.

1. From the Tax screen, click Participant Tax.
   The Participant Tax Details screen is displayed.

   Figure 5-26 Participant Tax Details

   
   

   
   Description of "Figure 5-26 Participant Tax Details"

   
   
2. This screen displays the tax rules for each participant based on which withholding tax is computed on the fee or interest components. Tax rules associated with the drawdown product defaults to the drawdown. You can waive the subsequent tax to be applied for a 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 will be associated with the rule) and tax on interest is computed on interest liquidation (event LIQD is associated with the rule).

   For details on associating tax with a product, refer the heading titled Specifying tax details for a participant product in the Defining Products for Loan Syndication chapter of this User Manual.

   For more information on the Tax sub-system of Oracle Banking Corporate Lending, refer the Tax User Manual.