Creating a Tax Group (All Countries Except US and Canada)
For US, see Creating a Tax Group (United States). For Canada, see Creating Tax Groups - Canada.
Changes made to tax groups are captured in system notes. For more information, see Searching System Notes.
To create a tax group (all countries except US and Canada):
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Go to Setup > Accounting > Taxes > Tax Groups > New.
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If you are using NetSuite OneWorld, select a country in the Item type column.
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On the Tax Group page, enter an abbreviation in the Tax Name field.
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Enter a description of the tax group.
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If you are using NetSuite OneWorld:
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Select one or more subsidiaries from the dropdown list.
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Check the Include Children box if you want to apply this tax group to the children of the subsidiaries.
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Select a tax type.
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In the Name column, select a tax code and then click Add. You can select as many tax codes as applicable. The tax code rate and tax type are automatically populated from the selected tax code. The sum of the tax code rates will be the tax group rate and it will appear in the tax group's Rate field.
Important:To make this tax group available for selection on a sales transaction, make sure that the tax codes in the tax group have Sales or Both in the Available on field of the tax code record. To make this tax group available for selection on a purchase transaction, make sure that the tax codes in the tax group have Purchases or Both in the Available on field of the tax code record.
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Enter a value in the Basis column for each tax code. The default value is 100, which represents the full rate. If the tax rate is 10% and the basis is 100, then 10% is added to the tax group rate. But if the tax rate is 10% and the basis is 50, then only 5% is added to the tax group rate.
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Click Save. Now, you can select this tax group when you create a transaction record.