File Library

The Interim Tax Provision is the process to estimate the tax expense in interim periods based on the annualized estimated effective tax rate (AEETR). The annualized estimated effective tax rate can be developed in the forecast scenario and applied against year-to-date NIBT (Net Income Before Tax) to determine the income tax expense before discrete adjustments. You can calculate either total tax expense or both current and deferred tax expense based on the effective tax rates developed. The net of the calculated tax and discrete items is considered the provisioned tax amount. Based on requirement, Total AEETR and Detailed AEETR can be enabled.
Oracle Cloud EPM Tax Reporting provides in-built calculated members to calculate interim calculation. Also, it provides different in-built forms to collect tax rates, discrete adjustments and other details.

By the end of this session attendees will have learned about:

• Enabling the Interim Tax Provision into EPM Tax Reporting application
• Process of entering the Current and Deferred Tax rates on in-built Data Forms.
• Process of entering the adjustments to NIBT amount on Forecast scenario.
• Viewing Total and Detail Interim provisioning after consolidation
• Excluding the Loss Entities from Interim Provision