When setting up your company, Budgeto asks in which country your business is located. This is because Budgeto has a pre-configured list of taxation rules and rates for 10+ countries. If your country is not on this pre-configured list you will have to set up your taxation rules manually. By default, the tool uses global averages that may not be suitable for your country's tax regulations.
To change the sales tax of a company follow these steps:
1- Select which company you want to change the sales tax rate. You can quickly access your list of companies by clicking on the ARROW next to your company name (near top-left).
For more information on how to access your list of companies, consult the following article:
How to access my list of companies
2- Next, click on the "Company Settings" button in the TOP MENU.
3- Once in the edit menu, you can access the sales tax menu by clicking the "Sales tax" button at the top right.
4- A new window will open in which you can modify your sales tax rate and the frequency of reporting your tax reports to your government.
5- By default, the tax rate for Sales tax is automatically set to comply with the tax regulations of the country of your company. We do not advise you to change them.
If your country was not included in the pre-configured list of countries, you should manually set up your tax rate for Sales Tax. By default, the tool uses global averages that may not be suitable for your country's tax regulations.
6- Remember to click on the "SAVE" button in both the pop-up window and next to the "Edit a company" to save your changes.
Related Articles (Please refer to the links below)
- How to change my user country/province/state?
- How to change the currency of a company?
- How to change the income taxes of a company?
- How to change the Employer contribution of a company?