The types of taxes vary according to the nature of the business activity and the goods or services provided by the activity. On the Riwaa platform, you can add the taxes you have. In this article, you will learn the steps.
Tax Options Added on the Riwaa Platform:
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Not subject to tax.
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Value Added Tax 15%.
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Tobacco fees. For more details, click here.
Steps to Add a New Tax
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Go to Settings > Taxes.
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Click on "Add Tax."
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Add the following data:
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Tax name.
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Tax code.
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Tax item: Example: Value Added Tax.
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Rate: The applicable tax rate. Example: 15%.
To Add a Compound Tax:
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Check (✓) the option: Contains Compound Tax.
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Add the following data:
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Compound tax name.
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Rate.
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Click on "Create."
Editing Tax Data
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Go to Settings > Taxes.
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Click on the icon (🖊).
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Edit the data you want.
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Click on "Edit."
Frequently Asked Questions
1- Can I use the tax on sales and purchases?
Yes, all taxes added within this list can be used on sales or purchases.
2- What is meant by compound tax?
Compound tax means imposing multiple taxes on the same good or service, such as applying Value Added Tax (VAT) on the basic product price in addition to applying selective tax on some products.
3- Can I delete the tax after adding it to the platform?
No, the tax cannot be deleted after it is added, but it can be edited.
4- Will previous invoices be affected when modifying tax details?
Previous invoices will not be affected by any modifications made to the tax details.
5- When modifying the tax rate, will it be immediately updated on the products?
Yes, the tax rate will be updated on the products. Refresh the browser page, or log out of the platform and log back in to see the update.
6- Can I add the tax to specific products?
Yes, this can be done by adding the tax within the tax list, then assigning each product with its specific tax type.