Create Country Defaults

Set up information at the country level that you want to default to the applicable E-Business Tax and legal entity setups. Country default controls let you designate transaction tax-related values in the countries that you do business. You can update these default values on the applicable pages.

The list of values in the country default control fields each contain all of the values that you have previously set up. For tax regimes and taxes, the list of values is restricted to the country-specific values. You should ensure that you have completed all of your applicable setup before setting country default controls.

You can set up these country default controls:

• Product fiscal classifications:

• Oracle Inventory category set
• E-Business Tax product category (non-Inventory based)
• Product intended use (Inventory based and non-Inventory based)

• Party tax profiles:
• Rounding Rule
• Tax Registration Type
• Tax Registration Status
• Collecting Tax Authority
• Reporting Tax Authority
• Issuing Tax Authority

• Tax regimes
• Taxes

Product fiscal classification defaults define the default values used at transaction time on transactions belonging to parties in the applicable country.

Party tax profile default control values default to the legal entity registrations and party tax profiles belonging to all parties in the applicable country.

Tax regime and tax default control values default to the tax registrations belonging to legal establishments in the applicable country. If you enable the available option, these default control values also default to imported invoices.