OAUG SIG Meeting Oracle Tax Management

Transcription

1 OAUG SIG Meeting Oracle Tax Management OAUG Oracle Tax Management SIG Meeting [SIG9152] Sunday, Sep 28, 3:30 PM - 4:15 PM Moscone West

2 Other ebtax Sessions A Tale of Two Cities: A Global Rollout of Oracle E- Business Suite [CON2549] - Wednesday, Oct 1, 12:45 PM - 1:30 PM - Moscone West Oracle E-Business Tax: Winning the Game of Taxes [CON8081] - Thursday, Oct 2, 9:00 AM - 9:45 AM - Westin Market Street - Metropolitan I ONESOURCE Tax & Accounting Solutions [SBH9523] - Tuesday, Sep 30, 10:30 AM - 10:50 AM - Scene and Be Heard Theater - Moscone South Exhibition Hall - Booth 313 How RBS Automated Its Oracle E-Business Suite 12 Tax Solution and Enhanced Functionality [CON5468] - Thursday, Oct 2, 2:45 PM - 3:30 PM - Westin Market Street - Metropolitan II

3 Other ebtax Sessions Oracle Tax Management SIG home=&gid= &trk=anet_ug_hm

4 Agenda Greetings OAUG Board Member 5 mins Oracle Support Announcement Fusion Tax Demo Harsh Takle 35 mins SIG events calendar Angie FauntLeRoy 5 mins

5 <Insert Picture Here> Tax SIG Update Sep Copyright 2013, Oracle and/or its affiliates. All rights reserved. Insert Information Protection Policy Classification from Slide 12

6 Key Updates Important Patches August 2014 Tax Recommended Patch :R12.ZX.B Minor update to Swiss Registration Number Validation :R12.ZX.B Fix to retain same functional currency amount in Oracle and Partner repositories :R12.ZX.B ebtax content upload program to ignore Canadian payroll records from Vertex :R12.ZX.B ebtax Setup upgrade How to Perform a Sanity Check To Verify if The Upgrade Was All Fine (Doc ID ) ebtax Diagnostics Tool - Patch Copyright 2013, Oracle and/or its affiliates. All rights reserved. Insert Information Protection Policy Classification from Slide 12

7 Speaker Harsh Takle Senior Director Product Development Fusion Tax Oracle Vikram Prabakar Group Manager Fusion Tax Oracle E-BUSINESS TAX FUSION DEMO

8

9 Fusion Tax Tax Management SIG Oracle Open World 2014 Vikram Prabakar, Harshavardhan Takle, Oracle ERP Cloud Sept 26, 2014 Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted

10 Safe Harbor Statement The following is intended to outline our general product direcnon. It is intended for informanon purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or funcnonality, and should not be relied upon in making purchasing decisions. The development, release, and Nming of any features or funcnonality described for Oracle s products remains at the sole discrenon of Oracle. Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 10

11 Program Agenda ImplementaNon Experience User Experience IntegraNon Experience Feature Enhancements Resources Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 11

12 Program Agenda ImplementaNon Experience User Experience IntegraNon Experience Feature Enhancements Resources Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 12

13 ImplementaNon Experience Challenges Tax legislanons are Complex Time consuming to implement Constantly Changing Compliance risk on expansion Tax Users are no ApplicaNon experts Tax Rapid ImplementaAon Simple workbook to define common tax configuranon 3 Sheets,~7-20 ayributes each, uses common lingo, in- built validanons and documentanon Partners can jumpstart tax implementanon in minutes Download exisnng configuranon: update, add for changes and upload revised spreadsheet for changes to take effect New Legal EnNNes automancally enabled for tax of the relevant geography tax profile Tax Managers can focus on their core competency without the overhead of gaining applicanon expernse Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 13

14 ImplementaNon Experience Tax Rapid ImplementaNon 1 2 Upload & Enable Tax ConfiguraAon Workbook Download from Manage Tax Regimes Generate CSV File to Upload buyon creates files for upload. On successful complenon, enable taxes for transacnons 3 OrganizaAon Specific, SensiAve ConfiguraAon Download Tax ImplementaNon Workbook for Tax Accounts, First Party RegistraNons, Business Unit SubscripNon to regimes Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 14

15 ImplementaNon Experience Tax Content Library Canada USA Ø Significant Predefined Tax Content Countries Ø Limited Predefined Tax Content Countries Ø Documented Tax Setup Countries United Kingdom Belgium France Portugal Poland Sweden Spain Germany Netherlands Austria Denmark Slovakia Italy Czech China Taiwan Singapore Finland Hungary Ireland Luxemburg Australia New Zealand ü Tax Content delivered in Rapid ImplementaNon Spreadsheets ü Jump start tax implementanon in minutes ü Reach out to Oracle Success Manager assigned to your customer account to get content Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 15

16 Program Agenda ImplementaNon Experience User Experience IntegraNon Experience Feature Enhancements Resources Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 16

17 User Experience Simplified Payables Invoice 1. Lines region would be for entering, reviewing what you see on supplier invoice 2. Key tax determinants included in default view 3. Separate Taxes region. Expanding this calculates taxes 4. Review taxes. Enforce tax amounts on Supplier invoice 5. Click refresh icon to recalculate taxes 6. Edit taxes, view line level taxes right from the region Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 17

18 User Experience Get Social 1 Tax errors during invoice entry Payables User is nonfied of tax calculanon error Error transacnon details submiyed for analysis 2 Analyze & Correct OSN nonficanons to open tax simulator through simulator UI or download DiagnosNc spreadsheet Complete transacaons with accurate tax 4 Submit invoice for validanon Silent Mode OpAon: Payables User can speed up transacnon entry with manual taxes. 3 Update Setup, correct TransacAon Based on the informanon in diagnosnc spreadsheet, Update Setup either using Tax Rapid ImplementaNon Spreadsheets or through Setup UI s Failed transacnons submiyed for Tax manager s analysis Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 18

19 User Experience Get Social 1 Tax errors during invoice entry 2 Analyze & Correct 3 Update Setup, correct transacaon Complete transacaons with accurate tax 4. Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 19

20 Fusion Tax IntegraAon Experience Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 20

21 IntegraNon Experience Centralized Tax Compliance Challenge o Effort, Cost with tax repornng from mulnple point, custom solunons o Overhead in maintaining tax changes in different systems requiring different structure o Lost opportunines in opnmizing overall tax costs o Compliance and Audit risk SoluNon External Taxable TransacNons Configure once and apply same tax rules consistently across all transacnons Created from Fusion or External ApplicaNons Easy to use spreadsheets to enter transacnons and import for tax processing Spreadsheet templates for bulk load of transacnons Centralized tax lines repository and repornng LegislaNon Changes: configure once, simulate and enable Benefits Significant Cost Savings Enables Tax Shared Service Center Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal 21

22 IntegraNon Experience External Taxable TransacNons External Applications ERP Cloud ecommerc e Billing Tax Configurati on Procurement Supply Chain Management Taxable Transaction s Tax Services Tax Repository Tax Reporting Centralized Tax Compliance Subledger Accounting General Ledger Tax on Journals ü External Journals ü Direct tax adjustments Taxable TransacNons ü Sales and purchase transacnons ü TransacNons with and without tax Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 22

23 IntegraNon Experience External Taxable TransacNons Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 23

24 Program Agenda ImplementaNon Experience User Experience IntegraNon Experience Feature Enhancements Resources Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 24

25 Feature Enhancements Withholding Tax Centralize Tax Compliance AutomaNc Global Tax Shared Service Center Configure once, subscribe Robust configuranon lets Payables users to focus on transacnonal entry Advanced tax configuranon features for complex regimes Rules to determine exact withholding tax applicable to each transacnon line Changes to transacnon informanon automancally applies relevant taxes Review taxes before invoice validanon Quick configuranon for simple regimes Taxes Based on transacnon info Considers all purchases from a supplier across business units for schedules, thresholds Taxable, tax amount thresholds and schedules for by transacnon, period Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 25

26 Feature Enhancements Withholding Tax Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 26

27 Feature Enhancements Max Tax, Schedules ü Max Tax, Taxable Amount Schedules and Tax Amounts Thresholds ü Configure for specific tax JurisdicNons that provide these incennves ü Apply thresholds condinonally using tax rules ü Configure minimum, maximum threshold values ü Apply on Unit Price, Line Amount, EnNre TransacNon, group of lines ü AutomaNcally considered during calculanon of taxes Arizona City Sales Taxes North Dakota Tennessee State Single Article Rate Florida Discretionary Sales Surtax Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 27

28 Feature Enhancements Tax Point Date Requisitions, Orders Payments Purchase Receipts Invoice Accounting Purchase Invoices ü The event at which tax is recoverable, repornng ü Tax Point can be Invoice, Delivery, AccounNng or Payment events ü Taxes calculated for Receipts, on accounnng ü Taxes with Delivery Tax Point are recovered and reported on receipt ü OpNon to calculate and report delivery based on Invoice ü Tax Accounted, Reported on Invoice AccounNng ü Tax Recovered on Payment based on payment amount, discounts and currency Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 28

29 Feature Enhancements Key Enhancements Tax Determinants consistently captured and carried forward on all transacnon events across procure to pay and order to cash flows LocaNon of Final Discharge, First and Third Party Tax registranons added as tax determinants Configure tax rules based on these determinants Tax for non- recoverable adjustments calculated and available for repornng Tax Providers, Partners can ü Provide content using Spreadsheets templates for Regimes to Rates, Tax Rules ü Download rates, jurisdicnons into spreadsheet. Update, add and upload ü Read tax lines extract for ReporNng & Filing needs has this integranon available for Fusion Customers Tax calculanon for intercompany transacnons orchestrated by supply chain financial orchestranon Tax thresholds based on group of lines. Meet Florida Max Tax for specific product classificanons Self Assess incremental tax, where supplier has applied incorrect rates Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 29

30 Feature Enhancements Spreadsheets with full automanon using Out- of the Box Web services Rapid ImplementaNon Spreadsheets ü Common Shareable ConfiguraNon: Tax ConfiguraNon Workbook ü ü ü Regime to Rates Independent Spreadsheets for Tax Regimes, Taxes, Rates, Recovery Rates Tax Rules ü OrganizaNon Specific (sensinve) configuranon ü ü ü ü First Party Tax RegistraNons SubscripNons to Tax Regimes Party Tax Profiles: Including RegistraNons, ClassificaNons Tax Accounts TransacNon Workbooks ü Taxable TransacNons (ADFDi Online Spreadsheets) ü ü Purchase TransacNons Sales TransacNons ü Taxable Journals (ADFDi Online Spreadsheets) ü ü Miscellaneous Taxable TransacNons Adjustments ü Bulk Import of External TransacNons (xlsm spreadsheet templates for offline use) ü ü TransacNons without tax TransacNons with tax calculated in external systems ü Incremental configuranon for changes to ü Tax Rates ü Tax JurisdicNons Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 30

31 Program Agenda ImplementaNon Experience User Experience IntegraNon Experience Feature Enhancements Resources Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 31

32 Resources Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 32

33 Resources Copyright 2014, Oracle and/or its affiliates. All rights reserved. Oracle ConfidenNal Internal/Restricted/Highly Restricted 33

34

35 ebtax SIG Events Webinar Dates and Times TBD Topics Third Party Tax Integration panel R12 Upgrade part 2 - panel discussion Latin Tax Engine ebtax problem solving techniques 101 Fusion Tax - Part 2 Collaborate 2015 Tax series

36 ebtax SIG Board Andrew Bohnet Paul Kirch Co-Chair Angie FauntLeRoy ebtax Education Chair - Angie.FauntLeRoy@ThomsonReuters.com