A Rule Base is associated with a batch of data.
It defines:
- The flagging algorithm used. The flagging algorithm is used to identify those accounts that need to be reported. It raises flags for accounts that are missing data that is required to determine the reportability of an account, accounts that need to be reported but are missing data that is required for reporting, and accounts require the user to intervene (for example, high value accounts that require relationship manager review).
- The XML reporting schema. XML (eXtensible Markup Language) is the data format that needs to be submitted to the recipient tax authority portal. The US XML format differs from the UK XML format which differs from the Common Reporting Standard (CRS) XML format.
- Any unique idiosyncrasies in the local government implementations.
- The mechanism to deliver data automatically (if possible) to the appropriate tax authority.
**Tax Authority Portal users: The Rule Bases are defined by your local Tax Authority.
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