Is there a standard solution for calculating taxes related to CIAP for fixed assets in Brazil?

Summary:

In Brazil, there is CIAP, where the Brazilian tax authorities grant taxpaying companies the right to ICMS credits related to the acquisition of fixed assets (CIAP).

To benefit from this credit, taxpayers must comply with additional controls, including: specific books for state asset acquisition operations, control of remaining ICMS balance, individual controls by acquisition date, among others.

The client would like to know if it is possible for Oracle ERP Fusion Cloud to calculate CIAP in a standard and native way.

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