Tax Configuration: Create Tax Regimes

Platform: R12

Create Tax Regimes
Tax Manager --> Tax Configuration --> Tax Regimes

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Click on ‘Create’.

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Expand the ‘Controls and Defaults’ Region and Configure.

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Note that unless you have set the Legal Authority as Reporting Tax Authority or Collecting Tax Authority while creating the Party Tax Profile for the Legal Authority, the Legal Authority will not be available in the drop down list.
See Document ’E-Business Tax Configuration – Tax Authority Party Tax Profile’
Expand the ‘Compounding Level Controls’ region and Configure.

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When you are done, click on ‘Continue’.

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Add your First Party Legal Entity. Choose your ‘Configuration for Taxes and Rules’. If you are not using Common Configuration, specify your ‘Configuration for Product Exceptions’. Specify an effective date. US localizations require Service Subscriptions. Click on ‘Service Subscriptions’ to add Service Provider.

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When you are done, click on ‘Finish’.

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You will get a confirmation that the tax regime was created successfully.
You can search and see that the Regime has been created.

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Shameem Bauccha

1 July 2009