Latin Tax does not Calculate Properly with "Inclusive Tax" (Doc ID 1603111.1)

Last updated on JULY 14, 2017

Applies to:

Oracle Financials for the Americas - Version 12.1.3 and later
Information in this document applies to any platform.

Goal

The problem is that the Argentina (Latin America Globalization) VAT Tax, is not properly calculated when the checkbox "Inclusive Tax" is checked for tax.

For Example:

The tax not inclusive:
Base Amount: 100
Not Inclusive Tax Rate: 21%
Tax amount: 21
Total transaction: 121

The tax inclusive:
Base Amount: 121
Not Inclusive Tax Rate: 21%
Tax amount: 25.41
Total transaction: 121

And it should be, the tax inclusive:
Base Amount: 121
Not Inclusive Tax Rate: 21%
Tax amount: 21
Total transaction: 121
 

Solution

Sign In with your My Oracle Support account

Don't have a My Oracle Support account? Click to get started

My Oracle Support provides customers with access to over a
Million Knowledge Articles and hundreds of Community platforms