Actual Tax Adjustments

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The Actual Tax Adjustments page allows you to enter your unit’s tax adjustments in local currency. Examples include tax credits, withholding tax, and other adjustments.

Enter a separate line item for each Tax Adjustment:

1.Select the appropriate code-description from the drop-down menu in the first column.
2.Select the tag.

 

3.Select the type of adjustment. It will usually be a P&L adjustment. However, if you are entering an item that does not have any impact on the current tax expense (e.g.., stock option expense), select E - Equity Adjustment.
Note: Refer to the Where to Enter Items in ONESOURCE Tax Provision section for more information on the different types of adjustments.

 

4.Enter the amount of the current tax adjustment in local currency.
5.Click Add New to create the tax adjustment.

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

After a tax adjustment is created, you can edit or delete the item by clicking the appropriate icon. Click the pencil icon to edit the entry. Select Save Changes after making any changes.You can attach files to an individual tax adjustment item on this page. If you have supporting documents, click the paper clip icon next to the item.

The impact of individual tax adjustments on your tax provision can be viewed on the Interim Provision report and the Effective Rate report.