R12 Oracle E-Business Tax Fundamentals

What you will learn

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

Prerequisites
 Functional knowledge of Financials migration fundamentals
R12 Oracle Financials Functional Migration Fundamentals
R12 Oracle E-Business Suite Essentials for Implementers

Course Objectives
 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

Course Topics
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