Oracle Fusion Tax is used to set up and maintain your transaction tax requirements in all geographic locations where you do business. Foundation tax configuration refers to a set of tax setup components that you will use to satisfy your tax requirements. At transaction time, Oracle Fusion Tax uses your tax configuration to determine the taxes that apply to each transaction and to calculate the tax amounts.

Foundation tax configuration components consist of:

Tax regimes

Taxes

Tax jurisdictions

Tax statuses

Tax rates

Oracle Fusion Cloud Tax Configuration:

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