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 Link Technologies - LinkSOFT Documentation 
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Tax Maintenance
Tax Maintenance is used to create and maintain the buying and selling tax rates. The menu stores the tax codes, tax labels and tax rate by value or percentage.

"Tax Code" defines the type of tax and the "Tax Label" are used to list tax components. For example, service provides pay 16% tax which is a sum of VAT (10%)  and Environment Levy (6%), tax labels are then use to differentiate each tax and their rates.  

Reports

  1. Tax Code Listing Report

Steps to setup Tax Rates:

  1. Click on the "Green Plus Sign". This will open the "Edit Form".
  2. Enter below details
    1. Code - Enter a code which can be a set of alphanumeric values to uniquely identify each Tax setup.
    2. Description - Enter the detailed description of the tax.
    3. Inclusive - Tick the "Check Box"to indicate that the tax is inclusive where the price will include VAT. If this is not ticked that the tax is considered to be exclusive and the price is expressed without VAT.
    4. Percentage - Tick the "Check Box" if the tax rate is a percentage. Price and tax component will be calculated  based on the set percentage. For Example, TAXIN price for an item is $5. The tax rate is 9%.
      1. If the box is unticked then the tax will calculated based on the defined tax value which is taken as the fixed amount to be calculated as the tax. E.g. TAXIN price for an item is $5. The defined tax rate is 2 then the actual price of the item without tax will be $3, i.e. 5 – 2 = 3
    5. Notes  - This is an open text field, users can enter desired content.
    6. Void - Void records will be "Disabled" and will not appear in any lookups . Edit the record and "UN-tick" void to activate a record.
    7. Save. Click on the "Floppy Icon".
  3. Click on the "Grey Arrow" to expand into details:
    1. Click on the "Green Plus Sign". This will open the "Edit Form".
    2. Enter below details
      1. Code - Enter a code which can be a set of alphanumeric values to uniquely identify each Tax label.
      2. Description - Enter the detailed description of the tax.
      3. Amount - Enter the tax rate or value.
      4. Save. Click on the "Floppy Icon".

Figure 1: Tax Maintenance