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Tax Book: Capital Allowance for specific asset category is calculated based on threshold amount

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edited Jul 22, 2021 6:54AM in Assets 2 comments

Summary

Tax Book: Capital Allowance for specific asset category is calculated based on threshold amount

Content

Hello,

One of our client is already using Oracle Fusion Cloud 21A for Financials and Procurement.

Asset module is already in use for one Corporate Book only.

Now they wish to implement a Tax Book associated to above Corporate Book.

The requirement for depreciation calculation in the Tax Book is as follows:

In case of asset ADDITION for a specific asset category:

If asset COST < 50,000 MUR ---> Full Year Depreciation

If asset COST > 50,000 MUR ---> Annual 50% depreciation applicable

This threshhold Amount and/or Depreciation Percentage is different by asset category.

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