Author Archive

Latest Questions and Answers form our GCC VAT Webinar

please see: https://www.innovatetax.com/how-will-vat-in-the-gcc-affect-your-erp-solution-questions-and-answers-from-presentation

Oracle India Tax Recovery – Warning on Tax Credits

please follow this link to see our latest new from our new website;

 

https://www.innovatetax.com/india-gst-be-warned-there-is-a-storm-ahead-a-warning-on-gst-recovery

India GSTN GST Registation Number Format

please see this link at our new website

https://www.innovatetax.com/india-gst-registration-number-format-state-pan-form-gst-and-india-state-codes-for-gst

 

How To Recover India GST (CGST, SGST, IGST, UTGST)

Please see our new website for this article;

https://www.innovatetax.com/india-gst-order-to-recover-gst-igst-cgst-sgst-utgst

Fusion Withholding Tax

Fusion provide two options when configuring Withholding Tax.

Simple Configuration

The simple configuration uses Withholding Tax Group code on the Invoice to generate the withholding tax

fusion-witholding-tax-1 fusion-witholding-tax-2

fusion-witholding-tax-2

The Withholding Tax Group is defaulted from the supplier or supplier site. This indicates if the supplier or supplier site is registered for Withholding Tax

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Oracle Patch 9794557 – NULL and NOT NULL conditions

with regards to

Patch 9794557;

I have checked patch on MOS. It is available for EBS 12.1 and there is no superseded info available in patch search which means that patch is not superseded. If it would be then in patch search window you would see that and link to new patch.

Not sure how relevant it is but please check:

What is the Latest E-Business Tax (eBTax) Rule Engine Patch? (Doc ID 1301356.1)

Gulf States (GCC), India, Anguilla – fix price your Oracle VAT/GST solution now

The world is changing and more tax needs to be generated. For this reason, there are several new countries that are introducing VAT or GST in the next couple of years.

The countries listed below are all adopting VAT or GST;

  • Saudi Arabia
  • Kuwait
  • Bahrain
  • Oman
  • Qatar
  • UAE
  • India
  • Anguilla

As the leading experts for Oracle Indirect Tax configuration, we are in the best position to offer you a fully automated solution for all of these countries and whats more, we are fix pricing the cost of this solution now before we know how complex the requirements will be, thats how confident we are at being able to deliver.

 

So Oracle R12 or Oracle Cloud (Fusion), get in touch to find out more.

UKOUG Partner Of The Year Awards 2016

Voting is now open! – Vote for eBiz Answers today!

 

eBiz Answers are proud to announce that we have been shortlisted for Innovative Service Partner of the Year at the UKOUG Partner of the Year Awards 2016.
These awards provide recognition to Oracle Partners for the contributions they make by providing their services to Oracle users. This year’s UKOUG Partner of the Year Awards will be presented on the 13th October 2016 at the new style Café de Paris, London.

After great success winning the Innovator of the Year Award at the International Tax Review’s European Tax Awards we hope to continue the winning run with the support of our clients and customers.

To Vote for eBiz Answers Ltd go to http://www.ukoug.org/2016-events/partner-of-the-year-awards/voting/
Voting Closes on the 12th September 2016
For further details of the Awards, including shortlists visit http://www.ukoug.org/2016-events/partner-of-the-year-awards/

How will Brexit impact Indirect Tax?

The short answer is that no one knows for sure how the decision from the 23rd June 2016 will affect businesses and with negotiations yet to start it will be some time before we have a clear idea. It is a challenging time, which is why eBiz Answers is hosting a series of webinars that will focus on what Brexit means for indirect taxes.

The webinars led by Neil Cubbage who has almost 7 years Fusion Tax experience with Oracle and Andrew Bohnet, the current Oracle Tax Management Special Interest Group chair, will look at what is likely to happen and how this will affect your Oracle configuration and processes around your Oracle eBusiness indirect tax solution. We will discuss how Brexit will impact all aspects of your Oracle eBTax or your Oracle Cloud (Fusion) solution, the reporting requirements such as the European Sales Listing Report, Intrastat reporting and the VAT return and the impact on other modules such as order management or projects.
 

From an indirect tax perspective, we will ask the question, does it matter if we are in Europe if we are not part of the European Union? ‘Leaving the EU’ is a confusing term because the UK is very much a European country, just like Norway and Switzerland who are also not part of the European Union, but are in Europe and function perfectly well without the complex requirements surrounding VAT and the EU.
 

We will focus on, what the alternatives are to being part of Europe around indirect tax, the Mini-One-Stop-Shop (MOSS) for example. Our aim is that the webinars will help you prepare your business for the challenges ahead to make sure you are ready for the changes when they come.
 

To register for these upcoming webinars please visit: www.ebizanswers.net/how-will-brexit-impact-indirect-tax

 

 

 

Oracle Indirect Tax Toolset for Real Time Compliance

The indirect tax world is changing and with it are the requirements around tax compliance and reporting and the penalties that follow when you get things wrong.

Too many companies rely on reporting after the month end has been closed – often too late to make changes or any changes that can be made are done manually with minimal audit trail.

So how can you get more out of your tax engine to reach total compliance?

eBiz Answers are pleased to introduce their Oracle indirect tax auditor toolset that provides analysis of your data in real time. No longer do you need to wait until after the month end has closed to check the data for issues before the tax returns are submitted, our eBTax Real Time Analytics that is part of our Oracle indirect tax auditor toolset will identify issues within 5 seconds of a transaction being entered.

To arrange a demo of this ground breaking tool, contact us here

To Global or Not to Global, that is the question – Oracle Configuration Owner

There should only be one choice

We would never set up a tax solution using anything other than the Global Configuration Owner, so why are so many companies configuring their oracle ebusiness tax engine with it set to be party specific? By that I mean when setting tax rates and rules up then linking them directly to an operating unit.

So why do people set them up this way? Well the short answer is because they don’t know what they are doing. That statement maybe a little harsh so let me justify it.

What is the Tax Configuration Owner?

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Oracle ebusiness tax – when to use a tax jurisdiction

Linking a tax jurisdiction to a tax rate.

Whether its R12 eTax, eBTax or Oracle Cloud (Fusion) Tax, with Oracle eBusiness Suite, every Tax created under a Tax Regime needs a ‘Tax Jurisdiction’ if it wants to be enabled for transactions. Under the Oracle tax engine, a tax jurisdiction only applies to certain types of taxes.

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What Exchange Rate To Use For Foreign Currency Invoices From Domestic Suppliers

Do I have to use the exchange rate on the supplier invoice when entering a domestic invoice with a foreign currency.

Most ERP systems, good ones at least such as Oracle and SAP, will allow you to enter and store an exchange rate to use for your foreign currency invoices so that the foreign currency will then be automatically converted to your ledger currency when posted. There are also times when you may receive a foreign currency invoice, USD is the most common scenario, from a domestic supplier and VAT is charged because the sale is within the same country.

The problem

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Oracle Cloud Tax updated for Release 11

Fusion Tax Release 11 Updates

Below is a high level overview of the new functionality available for the Oracle Cloud tax engine. As you can see, there are quite a few changes.

Estimated Tax on Sales Order now possible.

Create a rule using tax determinant which includes transaction business category = Sales Transaction

Create a UD.

Enhanced Rapid Implementation Spreadsheets:

Data related to tax rules moved from tax config workbook to tax implementation workbook.

The following worksheets are new in the implementation workbook:

  • Tax Exemptions: Create tax exemption configuration for third parties and third-party sites.
  • Party Classifications: Associate party fiscal classifications with the parties.
  • Tax Reporting Codes: Create tax reporting codes and tax reporting types for downstream use in tax reports.
  • Tax Payer Identifiers: Define specific taxpayer identifiers for third parties and third-party sites for purposes of reporting.
  • Product Fiscal Classifications: Create product fiscal classifications for subsequent use in tax rules having a product inventory linked determining factor class.
  • Tax Rules: Define rules that look for a result for a specific tax determination process, such as determining place of supply or tax registration, in relation to a tax on a transaction.

Tax registrations have moved out of party tax profiles task. Now have their own task lists of:

  • Manage Tax Registrations: Use this task to create or edit details related to Tax Registrations, Withholding Tax Registrations, and Taxpayer Identifiers.
  • Manage Tax Exemptions: Use this task to create or edit details related to Tax Exemptions and Withholding Tax Exemptions.

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How do you make indirect tax interesting? Revolutionise it!

As published in the Tax Technologist – specialist newsletter.

After I had done my part on a recent Oracle R12 presales presentation, I received the comment “I usually find tax really boring but somehow Andrew made that enjoyable to listen to”.  In fact, I always get a fantastic engagement when I talk about our indirect tax solutions in Oracle ERP systems (Oracle R12 and Fusion or Oracle Cloud as it is now known). The reason for this is simple, we are trying to make a difference and change the indirect tax process status quo.

We understand indirect tax and we are experts in Oracle, so we perfectly translate between the two. The majority of solutions we see usually fall well below what should be an acceptable solution. Maybe 90% either are or are considered at risk of being non-compliant as they rely almost entirely on a manual solution. Continue Reading