Setting up taxes in MYOB

Tax Monitoring System requires the tax codes and rates to be setup according to the specifications provided by your tax authority.

Use the below as an example on how to setup different tax codes in MYOB. Your tax authority rates may be different.

Name Abbr Tax Label Rate/Amount Setup in MYOB AccountRight

Value Added Tax VAT A 9.00%

Value Added Tax Export VAT-EXPORT B 0.00%

Value Added Tax Excluded VAT-EXCL C 0.00%

Service Turnover Tax STT E 6.00%

Environment Climate Adaption Levy ECAL F 10.00%

Plastic Bag Levy PBL P 0.20 FJD Direct tax is not supported in MYOB.

Non-Tax N-Tax N 0.00

Combined Taxes:

Value Added Tax
Service Turnover Tax
Environment Climate Adaption levy
VAT + STT + ECAL AEF 25.00%
To set up multiple tax rates in MYOB, follow these steps:

Create the individual tax codes: A, E, F in MYOB
Create the combined tax code by adding tax code prefixes. for example. A + E + F will have a tax code as AEF.

Name	Abbr	Tax Label	Rate/Amount	Setup in MYOB AccountRight
Value Added Tax	VAT	A	9.00%
Value Added Tax Export	VAT-EXPORT	B	0.00%
Value Added Tax Excluded	VAT-EXCL	C	0.00%
Service Turnover Tax	STT	E	6.00%
Environment Climate Adaption Levy	ECAL	F	10.00%
Plastic Bag Levy	PBL	P	0.20 FJD	Direct tax is not supported in MYOB.
Non-Tax	N-Tax	N	0.00
Combined Taxes: Value Added Tax Service Turnover Tax Environment Climate Adaption levy	VAT + STT + ECAL	AEF	25.00%	To set up multiple tax rates in MYOB, follow these steps: Create the individual tax codes: A, E, F in MYOB Create the combined tax code by adding tax code prefixes. for example. A + E + F will have a tax code as AEF.