Methods, devices and systems for sharing and selectively overriding tax configurations

• US 20080154754A1
• Filed: 01/31/2008
• Published: 06/26/2008
• Est. Priority Date: 03/26/2002
• Status: Abandoned Application

• Current Assignee: Oracle International Corporation (Oracle Corporation)
• Original Assignee: Oracle International Corporation (Oracle Corporation)
• Inventors: Sakamuri, Sri Kalyani, Back, Paulo Valfredo, WILLIAM, Isaac J.
• Application Number:
  US12/024,060
• Publication Number:
  US 20080154754A1
• Time in Patent Office: Days
• US Class Current: 705/31
• CPC Class Codes: G06Q 10/00 Administration; Management
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/123 Tax preparation or submission

Abstract

A computer-implemented method of processing taxes in an enterprise that includes a plurality of legal entities may include a step of maintaining tax content by a first legal entity of the plurality of legal entities. A second legal entity of the plurality of legal entities may then subscribe to all or a portion of the tax content maintained by the first legal entity. Upon occurrence of a taxable event for which the second legal entity incurs a tax liability, the tax content to which the second legal entity has subscribed may be accessed by the second legal entity and the accessed tax content may then be applied by the second legal entity to the taxable event to determine the tax liability incurred by the second legal entity as a result of the taxable event. In this manner, global and local tax content may be selectively shared and selectively overridden across legal entities of an enterprise, such as a multinational corporation.

Claims

1. A computer-implemented method of processing taxes in an enterprise that includes a plurality of legal entities, comprising the steps of:

maintaining tax content by a first legal entity of the plurality of legal entities;

subscribing, by a second legal entity of the plurality of legal entities, to at least a portion of the tax content maintained by the first legal entity;

upon occurrence of a taxable event for which the second legal entity incurs a tax liability, accessing at least a portion of the tax content to which the second legal entity has subscribed, and

applying the accessed tax content to the taxable event to determine the tax liability incurred as a result of the taxable event.

2. The computer-implemented method of claim 1, wherein the maintaining step is carried out with the first legal entity being a Global Content Owner (GCO) and wherein the tax content maintained by the GCO is visible to each of the plurality of legal entities of the enterprise.

3. The computer-implemented method of claim 1, wherein the maintaining step is carried out with the first legal entity further carrying out a step of subscribing to tax content maintained by a third legal entity of the plurality of legal entities of the enterprise.

4. The computer-implemented method of claim 1, wherein the tax content includes tax content of a plurality of tax regimes and wherein the subscribing step includes the second legal entity selecting to which of the plurality of tax regimes it is subscribing.

5. The computer-implemented method of claim 1, wherein the maintaining step is carried out with the tax content including tax rates, tax rules, formulae and tax statuses.

6. The computer-implemented method of claim 1, wherein the maintaining step includes a step of receiving the tax content from a tax service provider.

7. The computer-implemented method of claim 1, further including the second legal entity maintaining tax content and determining whether to apply the tax content maintained by the second legal entity or whether to access and apply the content maintained by the first legal entity to which the second legal entity has subscribed.

8. The computer-implemented method of claim 1, further including the second legal entity maintaining tax content and wherein the subscribing step includes specifying a content subscription option, the content subscription option indicating that the accessing and applying steps are to be carried out only when the tax content maintained by the first legal entity is not active or does not apply to the taxable event.

9. The computer-implemented method of claim 7, wherein, when the tax content maintained by the first legal entity applies to the taxable event, the method further includes the step of the second legal entity accessing the tax content maintained by the second legal entity and applying the accessed tax content to the taxable event to determine the liability incurred as a result of the taxable event.

10. The computer-implemented method of claim 1, wherein the tax content includes tax content of a plurality of tax regimes and wherein each of the tax regimes further includes a date from which the tax regime is effective.

11. The computer-implemented method of claim 10, each of the tax regimes further includes an end date after which the tax regime is no longer effective.

12. The computer-implemented method of claim 3, wherein the subscribing step effective only outside of a time period during which the subscription of the first legal entity to the tax content maintained by the third legal entity is active.

13. The computer-implemented method of claim 1, wherein the first legal entity maintains a flag configured to assume a first or a second state, the first and second states allowing and disallowing subscriptions, respectively, by other legal entities, to the tax content maintained by the first legal entity.

14. The computer-implemented method of claim 1, wherein the subscribing step is effective only for at least one of a tax regime and for a time period selected by the second legal entity.

15. A computer system for processing taxes in an enterprise that includes a plurality of legal entities, a first legal entity of the plurality of legal entities maintaining tax content, the computer system comprising:

at least one processor;

at least one data storage device coupled to the at least one processor;

a plurality of processes spawned by said at least one processor, the processes including processing logic for;

subscribing, by a second legal entity of the plurality of legal entities, to at least a portion of the tax content maintained by the first legal entity;

upon occurrence of a taxable event for which the second legal entity incurs a tax liability, accessing at least a portion of the tax content to which the second legal entity has subscribed, and

applying the accessed tax content to the taxable event to determine the tax liability incurred as a result of the taxable event.

16. A machine-readable medium having data stored thereon representing sequences of instructions which, when executed by a computing device, causes the computing device to process taxes in an enterprise that includes a plurality of legal entities, a first legal entity of the plurality of legal entities maintaining tax content, by performing the steps of:

subscribing, by a second legal entity of the plurality of legal entities, to at least a portion of the tax content maintained by the first legal entity;

upon occurrence of a taxable event for which the second legal entity incurs a tax liability, accessing the at least portion of the tax content to which the second legal entity has subscribed, and

applying the accessed tax content to the taxable event to determine the tax liability incurred as a result of the taxable event.

17. A computer-implemented method of processing taxes in an enterprise that includes a plurality of legal entities, comprising the steps of:

storing tax content locally to at least some of the plurality of legal entities;

subscribing, by a legal entity that stores tax content locally, to the tax content that is stored locally to a selected other one of the plurality of legal entities;

causing the subscribing legal entity to selectively access, upon occurrence of a taxable event, either the tax content to which it has subscribed or the tax content that is stored locally to the last one of the plurality of legal entities, and

causing the subscribing legal entity to apply the selectively accessed tax content to the taxable event to determine the tax liability incurred as a result of the taxable event.

18. The computer-implemented method of claim 17, wherein the subscribing step is effective for at least one of a selected tax regime and for a selected time period.

19. The computer-implemented method of claim 17, wherein the storing step is carried out with the locally stored tax content being effective for at least one of a selected tax regime and for a selected time period.

20. The computer-implemented method of claim 17, wherein the selective access step is carried out without the subscribing legal entity having any knowledge of the legal entity from which the tax content to which it has subscribed is fetched.