Creating Tax Codes

Tax codes determine how much tax is applied to each line item on your transaction records.

To view existing tax codes in your NetSuite account, go to Setup > Accounting > Taxes > Tax Codes. You must make sure that properties on each tax code are set correctly. Changes made to tax codes are captured in system notes. For more information, see Searching System Notes.

For information, see Tax Code Properties.

To create tax codes, read the following topics:

Note:

For information about withholding tax codes, read the Withholding Tax topic.

Important:

To benefit from the automatic tax code provisioning feature, you must first install the International Tax Reports in your account before you create subsidaries. In OneWorld accounts that have the International Tax Reports SuiteApp, when you add a new subsidiary country, the system creates the nexus and VAT/GST tax codes for that country. In other words, you must have the International Tax Reports SuiteApp already installed before you add the subsidiary. (Without the International Tax Reports SuiteApp, when you create a subsidiary country, NetSuite adds its nexus, but only provides a few default tax codes.) For more information, see Automatic Tax Code Provisioning.

Related Topics

Tax Control Accounts Overview
Tax Types Overview
Tax Codes Overview
Tax Code Properties
Adding Custom Fields to Tax Code Records
Editing Tax Codes
Inactivating or Deleting Tax Codes
Tax Groups Overview
Creating Tax Codes - U.S. Nexus
Creating Tax Codes - Canada
Creating Tax Codes - United Kingdom
Creating Tax Codes - Australia
Creating Tax Codes - Other Nexuses

General Notices