How To Set Up an Inclusive/Exclusive Tax for Your Products?
If you want your customers to see a breakdown of taxes and/or fees, create Taxes & Fees in your account and customise which of them applies to each product.
The procedures are as follows:
Step 1: Click on the Settings tab on the left side of the page.
Step 2: Select the taxes and fees tab.
Step 3: Click "New taxes and fees."
The page appears as follows:
On this page, you can create new taxes or fees as per your wish.
The procedures are as follows:
Step 1: Enter the name of the tax.
Step 2: Enter the type of tax (i.e., fee or tax).
Select Tax when you are required to collect tax for accounting purposes. Taxes can be inclusive or exclusive.
Select Fee when you are required to collect a fee for third parties. Fees can have a fixed value per booking or quantity.
Step 3: Enter the type (that can be fixed or can be a percentage).
Step 4: Enter the tax amount.
Step 5: Select the amount type.
Inclusive: This type of tax will not be applied on top of product prices, but the tax amount will be visible in the Order Summary online and on invoices.
Compound: This type of tax will be applied on top of the product price.
Step 6: Press the Save button.