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See What's New in Oracle Tax Reporting Cloud for 18.12

edited Dec 5, 2018 10:19PM in Tax Reporting (Direct Tax)

Summary

Read about new features in the What's New document for Oracle Tax Reporting Cloud Release 18.12

Content

The following features are available for Tax Reporting Cloud in Release 18.12:

  • Classifying Deferred Tax Assets and Liabilities - By default, deferred tax classifies each temporary difference account, based on the Total Deferred Tax amount. If you require additional flexibility, you can now use the "Classifications" attribute to define how both National and Regional accounts can be classified.
  • Calculating the Weighted FX Rate - The Weighted Average FX rate can automatically be calculated at the base entity level to any translated currency using the year-to-date Net Income Before Tax (NIBT). You must input or load each translated NIBT amount. The weighted average FX rate will be calculated, stored, and used in translation. If you do not want to use the system-calculated value, you can override the calculated rates in the Weighted Average FX Rate Override column.
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