Tax Reporting

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    Susan Attar
    See What's New in Oracle Tax Reporting Cloud for 18.12
    Topic posted December 5, 2018 by Susan AttarBlue Ribbon: 750+ Points, tagged Deferred Tax, Foreign Exchange, Tax Provision 
    See What's New in Oracle Tax Reporting Cloud for 18.12
    Read about new features in the What's New document for Oracle Tax Reporting Cloud Release 18.12

    The following features are available for Tax Reporting Cloud in Release 18.12:

    • Classifying Deferred Tax Assets and Liabilities - By default, deferred tax classifies each temporary difference account, based on the Total Deferred Tax amount. If you require additional flexibility, you can now use the "Classifications" attribute to define how both National and Regional accounts can be classified.
    • Calculating the Weighted FX Rate - The Weighted Average FX rate can automatically be calculated at the base entity level to any translated currency using the year-to-date Net Income Before Tax (NIBT). You must input or load each translated NIBT amount. The weighted average FX rate will be calculated, stored, and used in translation. If you do not want to use the system-calculated value, you can override the calculated rates in the Weighted Average FX Rate Override column.
    • Dynamic Calc Jurisdiction - The Dynamic Calc Jurisdiction feature is used to update the data storage type for out-of-the-box parent members of the Jurisdiction dimension, such as the "All National" member, to dynamic calc.

    Read about other new features in the What's New document below.