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