R12.x Oracle E-Business Tax Fundamentals

Course Description

This course will be applicable for customers who have implemented Oracle E-Business Suite Release 12 or Oracle E-Business Suite 12.1.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 flowusing Manage party tax profiles, configuration owners, and service providersSet up party, product, and transaction fiscal classifications and explain how these classifications impact tax processingSet up and use tax rulesManage taxes on transactions and identify E-Business Tax reportsManage migrated tax data for students upgrading from Release 11iA Live Virtual Class (LVC) is exclusively for registered students; unregistered individuals may not view an LVC at any time. Registered students must view the class from the country listed in the registration form. Unauthorized recording, copying, or transmission of LVC content may not be made.

Skills Gained

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

Who Can Benefit

• End Users
• Functional Implementer

Syllabus

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