LOCAL TAX ADJUSTMENTS

In the Local Tax Adjustments page, users can enter each unit’s local tax adjustments. Examples include tax credits, withholding tax, and other adjustments. Because tax adjustments are tracked separately within jurisdictions, national tax adjustments do not flow down to the local calculation.

2014.0 local tax adjustments

 

Enter a separate line item for each local tax adjustment:

1.Select the Code-Description and then Tag or Class/Sub-Class.
2.Enter the amount of the current tax adjustment in local currency.
3.Click Add New to create the local tax adjustment.

 

After a tax adjustment is created, users can edit or delete the item by clicking the appropriate icon.

1.Click the pencil icon to edit the entry.
2.Select Save Changes after making any changes.

 

•Users can attach files to an individual tax adjustment item on this page. If users have supporting documents, click the paper clip or filing cabinet next to the item.
•Users have the ability to add and update notes to a line item. Users may click on the notes icon then add notes.
•The impact of individual local tax adjustments on the tax provision can be viewed on the Local Tax Provision report.

Note: If a new tax adjustment item is required, contact the Corporate Tax Department.