configuration owner tax options and place of supply

Summary:

I am actually defining configuration owner tax options (COTO) to have taxes calculated on transactions based on Tax Classification Code (TCC) selected on AR/AP invoice lines.

If I define COTO and wants to define tax applicability rules based on TCC selected, which one would precede?

On a separate note, what is the significance of place of supply (Manage taxes → Tax Rule Defaults screen ) ? how it is determined for tax applicability?

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Version (include the version you are using, if applicable):

Oracle Cloud Fusion 24C

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