Setting up Tax Rates in Xero
You can add your own tax rate if needed. Your tax rates can apply to sales, purchases, or both.
- In the Accounting menu, select Advanced, then click Tax rates.
- Click New Tax Rate.
- Enter a Display Name and add Tax Components.
A tax component is a percentage rate applied to an item when you use the tax rate. You can include up to 6 components in a tax rate. You can use the same component for both sales and purchase tax rates.
- Click Save.
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