In the Create Specific Global Tax Rates panel, you can assign specific withholding tax rates and reclaim rates to apply as an override for a global tax rate using a specific entity/security/effective date combination. The system can apply these override rates in place of those defined at the global tax rate level.
To create specific global tax rates:
- In Accounting Center, in the left navigation pane, click Setup > Tax Rates > Specific Global Tax Rates > Create Specific Global Tax Rates.
You see the Create Specific Global Tax Rates panel. - Complete the options on the Create Specific Global Tax Rates panel.
- Click Submit.
The following are the options in the Create Specific Global Tax Rates panel.
Option | Tag | Description |
|---|---|---|
Add Specific Global Tax Rate | ||
Distribution Type | 670 | Specifies the type of income. Options include:
|
Entity Information | ||
Entity ID | 1163 | Specifies the unique identifier of the entity. |
Entity Name | 1164 | Specifies the name of the entity. |
Security Information | ||
Asset ID Type | 1432 | Specifies the primary asset identifier type for the security. You can select any code value defined for the IXREFTYPE code category. For example, CUSIP, ISIN, and SEDOL. |
Asset ID | 14 | Specifies the primary asset identifier for the security. |
Issue Name | 961 | Specifies the name of the security. |
Processing Security Type | 3931 | Displays the processing security type. |
Tax Rate Information | ||
Tax Withholding Rate | 1295 | Specifies the withholding rate. Enter the rate to apply in the number format, ##.##. For example, enter 20.5 to specify a rate of 20.50%. |
Tax Reclaim Rate | 1296 | Specifies the reclaim rate. Enter the rate to apply in the number format, ##.##. For example, enter 20.5 to specify a rate of 20.50%. |
Avoir Withholding Rate | 1297 | Specifies the withholding rate used for Avoir Fiscal dividend processing. If you enter this value for a specific global tax rate, you must set the corresponding Tax Withholding Rate field to a value of 0 (zero). When companies that are receiving dividends from profits, on which tax has already been paid by the distributing company, receive a tax credit attempting to avoid double taxation on that income, it is called an Avoir Fiscal. The Avoir Fiscal is reserved for dividends paid out by French companies that are subject to corporate tax, and it is equal to 15% of the amounts distributed (when the shareholder is a legal person). |
Avoir Reclaim Rate | 1298 | Specifies the reclaim rate used for Avoir Fiscal dividend processing. If you enter this value for a specific global tax rate, you must set the corresponding Tax Reclaim Rate field to a value of 0 (zero). When companies that are receiving dividends from profits, on which tax has already been paid by the distributing company, receive a tax credit attempting to avoid double taxation on that income, it is called an Avoir Fiscal. The Avoir Fiscal is reserved for dividends paid out by French companies that are subject to corporate tax, and it is equal to 15% of the amounts distributed (when the shareholder is a legal person). |
Date Information | ||
Begin Date | 71 | Identifies the first date of the tax rate period. |
End Date | 73 | Identifies the last date of the tax rate period. If you do not specify a value, the rate is assumed to exist indefinitely from the Begin Date. |
Text Information | ||
Description | 1104 | Specifies a description for the global tax rate. |
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