Setting up tax rates

Each tax has its own rates where one tax can have multiple different rate codes. The rate code is connected to rate values with a starting and ending date, so changes by the government can be supported in the calculation of taxes.

Example:

• Beer Excise
  • General Beer Duty
  • Strong Beer Duty

Register tax rate values

The actual rates for taxes are registered in the tax rate values. With the use of starting – and ending dates the system is able to find the rate on a given date.

See also

Design details: Dates in tax calculations

To set up rates for a tax

1. Select the Search icon , enter Tax, and then choose the related link.
2. Open the relevant tax card, and then choose the Rate Codes action.
3. On the Tax Rates Codes page, the Code field is prefilled with the Tax Code.
4. Fill in the fields on the line as necessary. Hover over a field to read a short description.
5. From the relevant tax rate code, choose the Rate Values action.
6. Fill in the fields on the line as necessary. Hover over a field to read a short description.