Create Tax Regime

You must create a tax regime before you set up the VAT tax.

You must enable the Use tax reporting configuration option on the first-party tax regime. This lets you enter tax reporting configuration details during tax registration setup for legal reporting units for these tax regimes. Follow these steps:

1. Navigate to Setup and Maintenance and select Manage Tax Regimes.
2. In the Select Scope dialog box, select Create New
3. Click Apply and Go to Task.
4. Click the Plus icon to add a new configuration, complete the fields and click Save and Close.