1.1 Create Country Preference

This topic provides the instructions to create Country Preference.

Oracle FLEXCUBE Investor Servicing provides the facility to associate certain attributes for countries maintained in the system.

You can define the reputation risk of a country, the EUSD option associated with it and assign alpha codes in the Country Preference Maintenance screen.

1. Access the Create Country Preference screen by typing Create Country Preference in the Menu Item Search option or navigating manually from Menu option.
   Navigate to the Menu, select Investor Servicing and click Create Country Preference within Country Preference.
   The Create Country Preference screen is displayed.

   Figure 1-1 Create Country Preference

   
   

   
   Description of "Figure 1-1 Create Country Preference"

   
   
2. On the Create Country Preference screen, specify the fields.
   For more information on fields, refer to the field description table.

   Table 1-1 Create Country Preference - Field Description

   Field	Description
   Country Code	Alphanumeric; 3 Characters; Mandatory Select the country for which you wish to define country preferences.
   CRRT Risk Level	Optional Select the CRRT, the Country Reputation Risk Table associated with the country from the drop-down list. The reputation risk level may either be High or Low. High implies that it is a high-risk country while Low indicates cautionary risk country. While creating a unit holder, if the unit holder domicile country is listed in the CRRT list, then system throws up an error depending on the country risk level.
   EUSD Options	Optional You need to associate a (European Union Savings Directive (EUSD) option with each country. Based upon unit holder’s country of domicile, the corresponding EUSD option of that country will get defaulted during unit holder creation. The list displays the following values: With Holding Tax Exchange of Information By default, no option will be selected. If no option is selected the system will consider that the EUSD is not applicable, and the system will not track the average cost as required for EUSD. If any of the option is selected, then the system will consider that the EUSD is applicable. The EUSD option at transaction level will be defaulted from the unit holder’s EUSD Option. You can also modify the EUSD option at transaction level. The transaction level option will be taken as the EUSD option. The following EUSD Options would be available at transaction level. With Holding Tax (WHT) - EUSD tax is computed and deducted Exchange of Information (EOI) - EUSD tax is computed but not deducted Tax Certificate (TCE) - EUSD tax is computed but not deducted For all the above three options, the system will calculate the EUSD tax. However, if you select With Holding Tax, the system will deduct it from the settlement amount.
   Alpha Country Code	Alphanumeric; 2 Characters; Optional Mention the country code in ISO alpha-2 format.