Set up taxes
Vev offers three tax methods: no sales tax, tax included in the price, or calculated at checkout. Tax rates are automatically pre-filled if known; otherwise, merchants can add their own based on location. However, only one method can be chosen. Taxes are then automatically included in exports for easy tracking. Let's dive in.
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Choosing your Tax method
Managing taxes is a critical aspect of running a successful business, and Vev offers merchants three distinct tax methods to facilitate this process.
1. No Sales Tax Applicable
This method is suitable for businesses operating in regions where no sales tax is applicable or where certain transactions are exempt from sales tax.
2. Sales Tax Included in the Price
Under this method, sales tax is incorporated into the listed price of products and services, ensuring transparency for customers.
3. Calculated at Checkout
This method dynamically calculates sales tax at the time of checkout based on the customer's location and the applicable tax rate.
Choosing the right tax method is essential for ensuring accurate tax management and compliance with regional tax regulations.
Set up Tax rates
1. Custom Tax rates
This option allows you to define the tax rate based on your business and the complexities of local tax rules.
2. Vev-Provided Tax Rates
In certain countries Vev provides pre-set tax rates.