Implementing Microsoft Dynamics 365 for Finance and Operations

Tax engine

Similar to electronic reporting, Microsoft is introducing a tax engine (TE) to set up and calculate taxes from a code-based approach to configuration. The new tax engine is highly configurable and lets business users, functional consultants, and power users configure tax rules that determine tax applicability, tax calculation, posting, and settlement, based on the legal and business requirements. The tax engine covers the following functional scopes: 

Functional area	Scope
Tax administration	Tax registration Tax authority Tax-related information on master data Tax invoice and voucher numbering
Tax applicability	The application scope of a tax Applying taxes on transactions
Tax calculation	Determination ...