Setup Document EB - Tax

SETUP DOCUMENT
E - Business Tax
Author
:
Creation Date :
Last Updated :
Document Ref:
Version
Approvals
:

G. Rajesh Kumar
April 9, 2012
Finance-EB Tax
:
1.0
Krishna Das
Mini Nair

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Setup Document EB - Tax

Assign Tax Admin Responsibility to the user

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Setup Document EB - Tax

Navigation : Tax Manager Parties Party Tax Profiles

Enter the OU and click on GO.

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Click on Update Tax Profile

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Setup Document EB - Tax

The following Flag should not be checked.

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Important: Please note that "Use subscription of the Legal Entity" check box must not be

checked. You will not be able to use India Localization if this flag is checked.

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Setup Document EB - Tax

Step 2: Define Regime

Navigation : Tax Manager Parties Party Tax Profiles Tax Configuration Tab
Following regime should be defined with exact values as shown below:
Following data should be entered while defining the tax regime:
Tax Regime CodeIN-SALES_TAX
NameIN-SALES_TAX
Regime Level: Country
Country Name : India
Effective Date : current date

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Set "Configuration Options" as follows:

You need to set value for "Configuration for Taxes and Rules" as "Common
Configuration with Party Overrides"

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Step 3: Create Tax

Navigation : Tax Manager Parties Party Tax Profiles Tax Configuration Tab
Create a Tax with following values:
Tax Regime Code IN-SALES_TAX

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Configuration Owner Global Configuration Owner and Operating Unit *

Tax SourceCreate a new tax
TaxLOCALIZATION
Tax NameLOCALIZATION

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If no values exist, then click create

* This setup needs to be carried out for once at the Legal Entity level and also for EACH
Operating Unit in which you wish to use Oracle Financials for India by clicking on copy and
override.

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Step 4: Create Tax Status

Navigation : Tax Manager Parties Party Tax Profiles Tax Configuration Tab
Create Tax Status with following values:
Tax Status CodeSTANDARD
NameLOCALIZATION
Effective From current date

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This setup needs to be carried out for once at the Legal Entity level and also forEACH
Operating Unit in which you wish to use Oracle Financials for India.
Tax status must be defined individually for each configuration owner, unlike TAXES

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Step 5: Create Tax Rate

Navigation : Tax Manager Parties Party Tax Profiles Tax Configuration Tab
Create Tax Rate with following values:
Tax Rate Code LOCRATE
Rate Type Percentage
Percentage Rate 0
Effective From current date

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This setup needs to be carried out for once at the Legal Entity level and also for EACH
Operating Unit in which you wish to use Oracle Financials for India (for the purpose of
creating tax rate at Operating Unit level you can use the 'copy' feature).

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Step 6: Update Tax Configuration Options

Navigation: Tax Manager Parties Party Tax Profiles Tax Configuration Tab
Review Configuration Owner Tax Options, ensure they are as following:
Navigation: Tax Manager Parties Party Tax Profiles Defaults and Controls tab

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