Monday, 9 October 2023

Oracle EBS - How to Enable New Tax Setup


Step1: Need to assign below responsibility to in User Account for Tax Setup Configuration

Responsibility: Tax Managers

 

Step2: New Tax Setup for ‘FREMONT CA-PARTIAL

Tax Regime Name: STATE TAX

Tax Regime: STATE TAX

Tax Name: FREMONT CA - PARTIAL

Tax Jurisdiction: FREMONT CA - PARTIAL

Tax Status: FREMONT CA - PARTIAL

Tax Rate Code: FREMONT CA - PARTIAL

Tax Classification: FREMONT CA - PARTIAL

Configuration Owner: Global Configuration Owner

Rate Type: Percentage

%Rate: 6.3125

 

Step1: Define Tax Regime:

(Note: No Need to perform Regime Setup If Regime Setup already Exists)

Navigation: Tax Manager Responsibility > Tax Configuration > Tax Regime

Click on Create Button.

Tax Regime: STATE TAX




Click on Apply.

 



Step2: Define Tax

Navigation: Tax Manager Responsibility > Tax Configuration > Taxes

Click on Create Button.



Tax Name: FREMONT CA - PARTIAL




Click on ‘Tax Account’ button


Step3: Define Tax Jurisdictions

Navigation: Tax Manager Responsibility > Tax Configuration > Tax Juridictions

Click on Create Button

 





Step4: Define Tax Statuses

Navigation: Tax Manager Responsibility > Tax Configuration > Tax Statuses

Click on Create Button.




Step5: Define Tax Rates.

Navigation: Tax Manager Responsibility > Tax Configuration > Tax Rates

Click on Create Button

Tax Regime: STATE TAX

Configuration Owner: Global Configuration Owner

Tax Rate Code: FREMONT CA - PARTIAL

Rate Type: Percentage

%Rate: 6.3125




Click on Rate Details Icon.

Tax Rate Detail:

Tax Rate Name: FREMONT CA - PARTIAL

Tax Rate Description: FREMONT CA - PARTIAL

 



Click on Apply.

Tax Account:

Click on Tax Account Icon.

 


Step6: Define Tax Rule

Navigation: Tax Manager Responsibility > Tax Configuration > Tax Rules

Need to Search with

Configuration Owner: Global Configuration Owner

Tax Regime: STATE TAX

Tax Name: FREMONT CA - PARTIAL


Need to update the following details.

 

Determine Place of Supply: Ship to, use bill to if ship to is not found

Determine Tax Applicability: Applicable

Determine Tax Registration: Bill From Party

Determine Tax Status: FREMONT CA - PARTIAL

Determine Tax Rate: FREMONT CA - PARTIAL

Determine Taxable Basis: STANDARD_TB

Calculate Tax Amounts: STANDARD_TC

 


Tax Rule Code: P2P_TAX_CODE_NOT_APPLY_OM

Name: P2P_TAX_CODE_NOT_APPLY_OM

 


Click on Next

Location Type: Bill To

Geography Type: Country

Operator: Not equal to

Value: Afghanistan



 Click on Next.



Click on Next



Click on Next

Determining Factor Set: FCP_DFS_P2P_1

Name: FCP_DFS_P2P_1

Condition Set: FCP_CS_P2P_1

Name: FCP_CS_P2P_1



Click on Finish.

Click on Pencil Icon.



Select Enable Checkbox


Click on Next & Finish.

 

Step7: Now we Need to Enable Tax.

Navigation: Tax Manager Responsibility > Tax Configuration > Taxes

Country: United States

Regime: STATE TAX

Tax Rate Name: FREMONT CA - PARTIAL      

 

Search with above values


Click on Update Button.

Enable the Checkbox and click on Apply


 

 

Now we can test the Tax Setup on Purchase Order Transaction.

 

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