• Corporate Taxes and Sales Tax

Corporate Taxes and Sales Tax

The Master Licencee has control of the master tax table which can set up with tax rates for multiple tax jurisdictions which will pre-populate the forecast with the tax rates for the selected tax jurisdiction. These Tabs can be used to create the business tax profile and create forecast future tax changes. The Master Tax Table has been pre populated with UK tax rates and US Federal tax rates. For any other countries tax rates the Master Licensee should select the Master Tax Table and enter the appropriate rates in the country column or to update any changes in US or UK rates. For State tax rates add the relevant rates to the state taxes and if multiple states need to be accommodated use an average rate.
The Tax Table should be updated whenever a change in legislation or budget change comes into force. However within the Commercial Setup Menu the companies tax profile and proposed or anticipated tax changes can be forecast.