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Valuation Alllowance Rules, NOL Limitation Rules, 2 National Tax Rates

in Tax Reporting (Direct Tax) 2 comments

Summary:

  1. Is it possible to configure a "Valuation Allowance Rule" for entities in recurring loss situation?
  2. Is it possible to configure jurisdiction specific "NOL limitation rules"? (e.g. in France accumulated NOLs can be used against profit up to € 1M + 50% of profit above € 1M)
  3. How to handle tax provision reporting for an entity in a jurisdiction having 2 national tax rates with 2 taxable income calculations? (e.g. in Italy IRES (24%) and IRAP (3,9%) taxes

Can you please answer all these 3 questions in detail? - @Naresh Kumar-Oracle @Ken Kramer-Oracle

Sincere thanks.

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