Tax Regime

Tax tax regimes for the TaxinConfiguration --> region where you do business and where a separate tax appl Manager> taxes each country and geographic Tax Regimes Set up

regime associates a common set of default information, regulations, fiscal classifications, and registrations to one or more taxe same tax requirement.

Tax Regime Code


Regime Level

Country Name if Regime Level is Country

ess and where a separate tax applies. A tax nd registrations to one or more taxes with the

Tax Geography Type and Name if Regime Level is 'Tax Zone' or 'Group Of Countries' Date Effective From

Tax Set up details for the taxes of a tax regime. You can modify this information at the tax level according to your needs. E-Business Tax defaults tax information from the tax regime to each tax that you create under a regime. Each separate tax in a tax Tax Manager> Tax Configuration --> Taxes regime includes records for the statuses. rates. and rules that are used to calculate and report on the tax. as well as add additional defaults and overrides Tax Regime Code Recovery Settlement Recoverable (Yes / No) (Immediate / Deferred) .

Recovery Rate .

exemption. Tax Manager> Tax Configurations --> For example. one tax can have separate tax statuses for standard. zero.A tax status is the taxable nature of a product in the context of Tax Status and a specific tax on the transaction. and reduced rates. or zero-rated exports Tax Statuses Tax Regime Code Tax Status Code . such as Intra EU. You define a a transaction tax status to group one or more tax rates that are of the same or similar nature. A zero rate tax status may have multiple zero rates associated with it in order to handle different reporting requirements for zero rate usage. zero-rated products.

E-Business Tax either uses a default place of supply or derives a place of supply based on tax rules. A tax jurisdiction specifies the association between a tax and a geographic location. The place of supply is the location where a transaction is determined to take place for a specific tax.Tax Jurisdiction Tax Manager> Tax Configuration --> Tax Jurisdictions A tax jurisdiction is a geographic region or tax zone where a specific tax authority levies a tax. At transaction time E-Business Tax derives the jurisdiction or jurisdictions that apply to a transaction line based on the place of supply. Tax Jurisdiction Code Tax Regime Code Geography Type (Like Country) .

Parent Geography Name Parent Geography Type (Australia) Reporting Tax Authority Collecting Tax Authority .

Tax Regime Code If Rate Type is Percentage Tax Status Code the Percentage Figure . For tax statuses.Tax Rate Tax Manager> Tax Configuration --> Tax Rates Set up tax rates for your tax statuses and tax jurisdictions. each with a specific rate for the same tax. For tax jurisdictions. set up tax rate records to identify the tax rate variations for a specific tax within different tax jurisdictions. a city sales tax for a state or province may contain separate city tax jurisdictions. For example. set up a tax rate record for each applicable tax rate that a tax status identifies.

Effective From .

if so. EBusiness Tax determines whether the tax exception applies to the transaction line for the product and. At transaction time. uses the applicable exception rate. Tax Regime Code Item Exception Rate Whether always applicable or Conditionally applicable .Tax Exception Tax Manager> Products --> Tax Exceptions Set up tax exceptions to apply special tax rates to products.

If Conditionally Applicable what is the condition of applicability of Exception Rate .

Tax Regime Code Tax Jurisdiction Code Customer Customer Site Exempt Reason .Tax Exemption Set up tax exemptions for your third party customers and customer sites. Tax exemption usually applies to a specific customer or to a combination of customer and specific product. A tax exemption is a discount/surcharge or replacement percentage from the base tax rate that reduces the applicable tax on a Receivables transaction.

Certificate Number Issuing Tax Authority Effective From Exempt Rate .

Tax Authority Legal Entity Manager> Setup --> Legal Authorities Set up a legal authority record for each tax authority that administers taxes in a tax regime where you do business. Organization Name Legislative Category Country Address Line1 .

Address Line 2 Address Line 3 Address Line 4 City County State .

Postal Code .

E-Business Tax uses tax registrations in tax determination and tax reporting. A tax registration contains information related to a party's transaction tax obligation with a tax authority for a tax jurisdiction where it conducts business. In some cases a single location may need to file multiple registrations. you must define either a default tax registration or a tax rule for the rule type Determine Tax Registration. This rule determines under which tax registration a transaction is processed. For each tax that you create.Tax Registration Legal Entity Manager> Legal Entities --> Create Legal Entity Set up tax registrations for your first party legal establishments and your third party customers/customer sites and suppliers/supplier sites. Legal Entity (Associated Legal Establishment) Tax Registration Number Third Party Party Name (Customer) Tax Registration Number .

Create Legal Entity Issuing Tax Authority Issuing Tax Authority .

g. charge an additional 'Y'% of Tax on the transaction. . Do you require Compounding of Tax in any case? If yes please elaborate the business scenario with exact tax compounding e. Tax Calculation Basis is Line Amount / Assessable Value 1 Line Amount / Assessable Value 2 Tax 1 on Line 3 Tax 2 on (Line + Tax 1) 4 Tax 3 on Tax 2 only So Total Tax = Tax 1 + Tax 2 + Tax 3 2. Mention the cases where you require a special tax treament (based on a particular customer/item/ship to location) e.1. If Ship To is 'X' apply reduced tax rate or no tax at all If The party is not registered with tax authority.g.

ith exact tax compoundings. ship to location) .

Tax Exception Reasons Tax Exemption Reasons Tax Exceptions are required to apply special tax rates to products CODE MEANING Tax Exceptions are required to apply special tax rates to Parties or Parties and Product Combination CODE MEANING .

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