AMT Local Currency Approach

AMT Local Currency Approach (Not Recommended) lets the AMT functionality calculate using Local Currency amounts. You can manually activate or import the System Parameters Reference to use this approach.
  • Use this approach only if all of the units have the same local currency.
  • Use the same currency for all units in a Filing Group for the calculation to be logical.
To manually activate the AMT Local Currency Approach, select
Administration
>
System
>
Manage Configurations
>
Advanced Functionality
>
Alternative Minimum Tax
>
Designate AMT Functionality Approach
>
Yes
.
The Local Currency approach has limited functionality when compared to the Reporting Currency approach.
  • Computes the AMT calculation in Local Currency.
  • AMT Automation Policies posts the generated AMT liability as activity on an after tax temporary difference with the code AMT_SYS.