1 Reply Latest reply on Feb 4, 2014 6:25 AM by PranitSaha

    Tax Classification Code

    Uva

      Hi All,

      Can any one explain me what is TAX Classification code, and how it plays in P2P cycle.

       

      On what basis does tax classification codes can be restricted.

       

      Thanks in advance.

        • 1. Re: Tax Classification Code
          PranitSaha

          Based on user guide:

          Release 11i tax codes migrate to E-Business Tax as tax classification codes. The tax classification code is a tax determining factor under the Transaction Input Factor determining factor class. You can use tax classification codes and the Direct Tax Rate Determination rule type to set up a tax determination model similar to Release 11i.

           

          My version:

          Effectively this has replaced the tax codes of 11i and is a key element on R12 Tax Engine to determine the amount of tax you need to pay while procuring goods/services from a supplier.

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