The ‘Settings > Taxes’ section makes it possible to create pre-set taxes to apply to products. Consult with an accountant and/or a lawyer if you are unsure what to do or need more information before selling your products.
To create new tax profiles, click the ‘Add a tax profile’ button.
You will need to enter:
- the tax name;
- the tax percentage value (for example, 22%).
- Select ‘Default setting’ only if this is to be the main setting for the shop. Once you designate it as the 'default setting’, it will be applied to products if no other tax settings are specified.
Once you’ve set the tax, you will need to enable the countries where it can be applied. It will be calculated only for the countries included in the setting.
Once the tax settings are saved, you can easily associate them to your products within the product sheet. The system will automatically divide up the price between VAT and the sales price you've set.