R12 E-Business Tax Fundamentals

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Course Overview

In this course, students learn about the new features of Oracle E-Business Tax. Additionally, students learn how to set up a tax model and apply that tax to a transaction using the Oracle Tax Simulator and other E-Business suite applications.

Students learn details of tax concepts, configuration components, and tax processing. Students learn how E-Business Tax features are used across E-Business Suite applications. This course gives implementers the information they need to assist them in deciding which features to implement.

Learn to:

• Set up a tax configuration using the Regime to Rate flow
• Manage party tax profiles, configuration owners, and service providers
• Set up party, product, and transaction fiscal classifications and explain how these classifications impact tax processing
• Set up and use tax rules
• Manage taxes on transactions and identify E-Business Tax reports
• Manage migrated tax data for students upgrading from Release 11i

Audience

• End Users
• Functional Implementer

Skills Gained

• Understand E-Business Tax key concepts
• Describe how E-Business Tax integrates with other Oracle E-Business Applications
• Set up the basic tax configuration using the Regime to Rate flow
• Understand the use and content of party tax profiles
• Set up tax exemptions
• Understand configuration owners
• Understand E-Business Tax and third-party tax service providers
• Understand how Release 11i tax data migrates to E-Business Tax
• Understand the use of fiscal classifications in tax rules
• Describe how the E-Business Tax rules engine calculates taxes on transactions
• Set up tax rules using the Guided Rule Entry and Expert Rule Entry
• Translate tax regulations into a set of tax rules for tax determination
• Understand tax recovery processing
• Understand tax handling on transactions
• Use the Oracle Tax Simulator to verify the tax configuration
• Describe E-Business Tax reports

Prerequisites

Required Prerequisites:

• R12 Oracle E-Business Suite Essentials for Implementers

Suggested Prerequisites:

• Functional knowledge of Financials migration fundamentals
• R12 Oracle Financials New Features Fundamentals

Course Outline

Oracle E-Business Tax Overview

• E-Business Tax key concepts
• Tax Determination Management
• Integration within Oracle E-Business Suite

Part 1: Oracle E-Business Tax Basic Tax Configuration

• E-Business Tax configuration flow
• Regime to Rate flow
• Tax Regimes
• Taxes
• Tax Statuses
• Tax Rates
• Tax Jurisdictions

Part 2: Oracle E-Business Tax Basic Tax Configuration

• Additional setup options
• Tax Zones
• Tax Accounts
• Tax Reporting types

Managing Party Tax Profiles

• Party Tax Profiles
• Self-Assessment taxes
• Offset taxes
• Tax Exemptions
• Tax Registrations

Configuration Owners and Service Providers

• Tax configuration ownership
• Configuration options
• Service Subscriptions
• Event Classes

Fiscal Classifications

• Fiscal classifications: party, product, and transaction
• Product Tax Exceptions

Part 1: Setting Up Tax Rules

• Rule Engine
• Rule Types
• Tax Rule defaults
• Guided Tax Rule Entry
• Make tax available on transactions
• Oracle Tax Simulator

Part 2: Setting Up Tax Rules

• Determining factors: party, product, place, and process
• Tax Determining Factor Set
• Regime Determination Set
• Tax Formulas
• Tax Condition Sets

Part 3: Setting Up Tax Rules

• Rules setup example
• Expert Tax Rule Entry

Tax Recovery

• Tax Recovery Rates
• Recovery Rate tax rule
• Tax Recovery processing

Managing Taxes on Transactions

• Services
• Payables transactions
• Receivables transactions
• Intercompany transactions
• Managing tax lines
• Managing tax exemptions

Tax Reporting Ledger

• Tax Reporting Ledger
• XML Publisher
• E-Business Tax reports
• EMEA VAT reports
• Latin American tax reports
• Asia/Pacific tax reports

Appendix A: Managing Migrated Tax Data

• Tax definition upgrade flow
• Tax code migration
• Data ownership
• Operating Unit tax profiles
• Tax Classification codes
• Application tax options
• Direct Tax Rate Determination rule
• Tax configuration migration path

R12 E-Business Tax Fundamentals / D49306GC10