Configure tax rates

Set up the IVA rates your invoices and bills should apply.

You'll add IVA rates so your invoices and bills calculate tax correctly from the start. Getting this right means your financial reports stay accurate and you're ready for tax filings without extra work.

1

Open Taxes in the sidebar.

Open Taxes in the sidebar.

 

2

Click New tax rate to add one to your current rates.

Your current rates are listed — click New tax rate to add one.

You'll see any rates you've already created here, making it easy to manage them all in one place.

3

Enter the rate name and percentage. You can scope it to specific product categories.

Name the rate and enter the percentage — you can scope it to specific product categories.

 

Scoping a rate to specific categories lets you apply different IVA percentages to different product types — useful if your business sells both taxed and untaxed items.

 

4

Click Save tax rate. The IVA return report picks it up automatically next period.

Click Save tax rate — the IVA return report picks it up automatically next period.

 

Once saved, the rate is live and will be picked up automatically by your IVA return report in the next period.

 

What's next

With your tax rates configured, your invoices and bills will calculate IVA correctly. You're now ready to create products and assign them to the categories you've set up.