Oracle announced the availability of Oracle Enterprise Taxation Management 2.2.0, the newest version of the secure, tax-specific, commercial off-the-shelf software solution that enables tax and revenue authorities to optimize revenue collection. Providing a configurable alternative to custom-built systems, the application enables local tax collection authorities to optimize all aspects of the revenue collection process and quickly respond to tax law and regulatory changes.
Tax authorities often struggle to create integrated views of taxpayer activity, streamline collections, audit taxpayer service operations and adapt to constant change and complexity in the tax laws they administer. As a result, tax authorities are constantly challenged to ensure the equity and efficiency of their tax administration responsibilities. Oracle Enterprise Taxation Management 2.2.0 provides tax authorities with an integrated solution to enable near-term functional improvements, while providing the adaptability and flexibility needed to address future challenges as well.
Availability and Enhancement Details
Now generally available, the new version of Oracle Enterprise Taxation Management provides out-of-the-box core tax processing features to support registration, forms processing, and penalty and interest determination, allowing for quicker and lower- risk implementations.
In addition, the new version provides sophisticated tax calculation capabilities that allow for highly specialized calculations based on a number of configurable criteria. For example, the application now provides tax authorities with tools and application objects to support the calculation of tax penalty, interest and fee charges with minimal configuration – improving agency efficiency.
Oracle Enterprise Taxation Management Product Features
Oracle Enterprise Taxation Management gives tax authorities an integrated tax data architecture providing a “single view” of constituent history across tax lines of business.
Oracle Enterprise Taxation Management is built on Java Enterprise (J2EE) and service-oriented architecture (SOA) industry standards, providing tax authorities more flexibility and long-term viability.
“Oracle is committed to providing tax authorities with the flexible and affordable solution they need to maintain efficiency in an ever-changing regulatory environment. Oracle Enterprise Taxation Management 2.2.0 demonstrates that tax authorities no longer need to rely on costly custom systems. Its standards-based platform and pre-built integrations allow for easy configuration to meet unique requirements and helps ensure the application will meet the needs of tax authorities today and in the future,” said John Andrus, vice president and general manager, Oracle Tax Global Business Unit.