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Oracle Fusion tax product updates

Product updates version 2.6.0.9

This update provides the following information:
  • Update summary
  • Technical changes

Update summary

Thomson Reuters is pleased to provide a fix version of ONESOURCE Integration for Oracle Fusion Tax on top of the 2.6.0.8 release. The 2.6.0.9 version supports the following enhancements:
Self-Assessed tax
New enhancement
: ONESOURCE Integration for Oracle Fusion enables VAT self-assessment on payables invoices— replacing the current creation of separate Input and Output tax lines for reverse charge/acquisition scenarios—to improve compliance and resolve key bugs.
  1. Go to the Integration Taxable Country Settings.
  2. Select
    YES
     from the
    Return Self-Assessed tax for Import/Reverse Charges/Acquisition taxes
     dropdown.
  3. When Invoice is validated in Oracle Payables for Import/Acquisition/Reverse Charges scenarios (Tax types = IM/IR/ER/RC/AC), tax will be created as
    Self-Assessed.
Bugs addressed
:
Issue
Description
Resolution
VAT Report Errors
Spain/Italy reports missing self-assessed taxes
Reports now display correctly with new functionality
PO Matching Error
Single-row subquery error during PO match for VAT invoices
Resolved by creating only one input tax line on PO

Increase the Companies from 500 to 1000 in Fusion Integration UI

New Enhancement
: In Integration, the issue where newly created companies from the Company Settings page didn't appear in Integration UI due to a 500-item API cap has been resolved by increasing the limit to 1,000.

Brazil Scenario for the taxable base

New Enhancement
: Changes made in the integration to change the sign of a tax rate from +ve to -ve if the taxable base/Line amount is +ve and line tax amount is -ve.

AR Special Line Handling- Incorrect tax recorded for Credit Memo

New Enhancement
: When Oracle makes calls to record taxes, tax is recorded with amount from 1st tax line. Made changes in the integration for each line are summed up and recorded in audit.
note
For additional information, see the following on the ONESOURCE Customer Center:
  • Integration for Oracle Fusion Tax Documentation
  • Integration for Oracle Fusion Tax Product Updates

This article applies to:

  • PRODUCT: ONESOURCE Determination