R12: AP: EBTax : How to Setup Taxes in E-Business Tax When There Are Multiple Inclusive Taxes/Compound Taxes Required on a Payables Invoice?
(Doc ID 2989439.1)
Last updated on NOVEMBER 27, 2023
Applies to:
Oracle E-Business Tax - Version 12.1.3 and laterOracle Payables - Version 12.1.3 and later
Information in this document applies to any platform.
Goal
How to calculate multiple inclusive taxes on an invoice using compounding?
User requirement is explained below:
Two inclusive taxes will be required on one Payables Invoice:
Invoice amount: 100000
First Tax rate is 7.5%
Tax amount should be 100000*7.5/107.5 = 6976.74
Second tax rate is 1%, it should be calculate on net item amount.
Tax amount should be (100000-6976.74) *1% = 93023.26 *1% = 930.23
Solution
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In this Document
| Goal |
| Solution |
| References |