Oracle E-Business Suite R12.1 Accounts Payables Partner Boot Camp Training Courseware. Part IX Withholding Tax

Transcription

1 Oracle E-Business Suite R12.1 Accounts Payables Partner Boot Camp Training Courseware Part IX Withholding Tax

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4 Key Content Contributors Contributing Companies -4-

5 Accounts Payable For Oracle employees and authorized partners only. Do not distribute to third parties. -5-

6 Bootcamp Sections Procure to Pay Overview Payables Overview Suppliers Invoices Payments Expense Reports and Credit Cards Period Close Transaction Taxes in Payables Withholding Tax Advances and Progressive Contract Financing -6-

7 Section Objectives In this section we will cover the following topics: Identify the withholding tax process Use withholding tax options Process manual withholding tax invoices Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment Process automatic withholding tax invoices -7-

8 Identify the withholding tax process Withholding Tax Overview You may be required to withhold taxes from your employee expense reports and supplier invoices. Once you set up Payables to automatically withhold tax, you can withhold tax either during Invoice Validation or during payment processing or both. You can control all withholding tax options in the Withholding Tax region of the Payables Options window. -8-

9 Section Objectives In this section we will cover the following topics: Identify the withholding tax process Use withholding tax options Process manual withholding tax invoices Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment Process automatic withholding tax invoices -9-

10 Use withholding tax options Withholding Tax Payables Options Use Withholding Tax Select the Use Withholding Tax option to enable Automatic Withholding Tax. If you enable this option, you have the option to allow your suppliers and supplier sites to be subject to withholding tax. Defining Special Calendar -10-

11 Use withholding tax options (Cont ) Withholding Tax Payables Options Use Withholding Tax (Cont ) Select this option to enable Automatic Withholding Tax -11-

12 Use withholding tax options (Cont ) Defining Tax Codes & Groups When you define a withholding tax code, you indicate first whether you will have any amount or rate controls by selecting one of the following rate structures: Period Limit Flat Rate Amount Ranges You use Tax Groups window to define withholding tax groups that include multiple Withholding Tax type tax codes. You can assign the same tax code to more than one group. When you assign a withholding tax group to an invoice or distribution, Payables calculates invoice withholding tax based on every tax code in the withholding tax group. -12-

13 Use withholding tax options (Cont ) Defining Tax Codes & Groups -13-

14 Use withholding tax options (Cont ) Defining Tax Codes & Groups -14-

15 Use withholding tax options (Cont ) Withholding Tax Certificates and Exceptions You use the Withholding Tax Certificates and Exceptions window to define Withholding Tax type tax code rate exceptions for a supplier site. Withholding Taxes for Suppliers You enable withholding taxes for a supplier and supplier sites in the Tax Details region of the Suppliers page. Select Allow Withholding Tax option if you want to enable withholding for a supplier or supplier site, and select a default Withholding Tax Group that Payables will default to all invoices you enter for the supplier or supplier site. -15-

16 Section Objectives In this section we will cover the following topics: Identify the withholding tax process Use withholding tax options Process manual withholding tax invoices Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment Process automatic withholding tax invoices -16-

17 Process Manual withholding tax invoices -17-

18 Process Manual withholding tax invoices (Cont ) If you choose to create withholding tax invoices manually, create an invoice for each Withholding Tax type invoice distribution on an invoice. Create the invoice for the tax authority supplier and site assigned to the Withholding Tax type tax code and for the amount of the Withholding Tax type invoice distribution -18-

19 Section Objectives In this section we will cover the following topics: Identify the withholding tax process Use withholding tax options Process manual withholding tax invoices Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment Process automatic withholding tax invoices -19-

20 Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment Invoice With Withholding tax -20-

21 Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment (Cont ) Invoice With Withholding tax (Cont ) -21-

22 Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment (Cont ) Withholding tax when applying Prepayments -22-

23 Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment (Cont ) Withholding tax from Recurring Invoices -23-

24 Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment (Cont ) Projected Withholding tax -24-

25 Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment (Cont ) View Period to Date Withheld Amounts -25-

26 Section Objectives In this section we will cover the following topics: Identify the withholding tax process Use withholding tax options Process manual withholding tax invoices Create withholding tax on Standard Invoices, Recurring Invoices and Application of Prepayment Process automatic withholding tax invoices -26-

27 Process automatic withholding tax invoices -27-

28 Process Automatic withholding tax invoices (Cont ) If you specify that you want to create withholding tax invoices during Invoice Validation, Payables creates unvalidated withholding tax invoices for tax authority suppliers assigned to tax codes. If you specify that you want to create withholding tax invoices during payment processing, Payables creates unvalidated withholding tax invoices (for those invoices where you have applied withholding tax) during the Confirm program of payment batch processing, or during processing of a Quick payment. Payables does not automatically withhold taxes if you pay with a manual payment or a refund. -28-

29 Key Reports Related to Withholding Tax Withholding Tax By Invoice Report Withholding Tax By Payment Report Withholding Tax By Tax Authority Report Withholding Ta By Supplier Report Withholding Tax Certificate Listing Withholding Tax Letter Withholding Tax Report -29-

30 Withholding Tax Certificate Listing You use the Withholding Tax Certificate Listing to review withholding tax certificates for a supplier or all suppliers. Withholding Tax Letter You use this report to create a withholding tax letter to mail to your suppliers on a periodic basis. This letter contains a list of withholdings made for a supplier, summarized either by tax type and tax rate or by supplier site. -30-

31 Withholding Tax Report You use this report to create a withholding tax report for your company s internal reporting needs. This report contains a list of withholdings made on behalf of your suppliers, summarized either by tax type and tax rate or by supplier site, and grouped by supplier. -31-