2.46 Process Country Preference Maintenance Detail

This topic provides the systematic instructions to provide the facility to maintain preferences for Country.

The 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 Detail screen.

Before you associate any attribute with a country, it is desirable to ensure that the following information is already setup in the system.

The countries that must be associated with EUSD options must be set up in the system in the Country Maintenance.

  1. On Home screen, type UTDCONPF in the text box, and click Next.
    The Country Preference Maintenance Detail screen is displayed.

    Figure 2-57 Country Preference Maintenance Detail


    Description of Figure 2-57 follows
    Description of "Figure 2-57 Country Preference Maintenance Detail"

  2. On Country Preference Maintenance Detail screen, click New to enter the details.
    For more information on fields, refer to the field description table.

    Table 2-56 Country Preference Maintenance Detail - Field Description

    Field Description
    Country Code

    Alphanumeric; 3 Characters; Mandatory

    Select the country for which you wish to define preferences.
    CRRT Risk Level

    Optional

    Select the Country Reputation Risk Table (CRRT) 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 for a transaction. The following EUSD Options would be available at transaction level.
    • With Holding Tax (WHT)
    • Exchange of Information (EOI)
    • Tax Certificate (TCE)

    For all of 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; 3 Characters; Optional

    Specify the Alpha Country Code.

    You must have another user authorize it so that it would be effective in the system after you have defined the preferences of a country.

    Before the record is authorized, you can edit it as many times as necessary. You can also delete it before it is authorized.

    After authorization, you can only make changes to the record through an amendment.