What is E-Business Tax? and Its Key Benefits in Oracle Apps R12

What is E-Business Tax? and Its Key Benefits in Oracle Apps R12

Release 12 introduces a consolidated module E-Business Tax that provides tax calculation services across the whole of the Order to Cash (O2C) and Procure to Pay (P2P) business flows.

This new module is called throughout each of the business flows to calculate taxes. Information from the transaction such as the locations on the record (bill to, ship to, ship from, bill from, POA & POO) along with a wide variety of data about the customer, inventory item and even transnational attributes are passed. EBTax uses all of this information to determine what taxes are applicable and how they are to be applied.

     Key Benefits

•  Complete global tax solution for the E-Business Suite
•  Easy to use and configure. Provides guided and expert configuration options
•  Easy to integrate with 3rd party tax vendors. Provides infrastructure to upload tax content
•  Provides infrastructure to define and share or to define and individually own tax content
•  Provides infrastructure to simulate tax setup, transactions lines and respective tax calculation results
•  Enables users to create and maintain a variety of tax rules and determining factors, which can handle from very simple to very complex tax requirements
•  Captures all relevant tax information in the Tax Repository
•  Offers powerful and flexible tax reporting solution where users can use and/or modify the per-defined tax reporting templates