This module provides the functionality that you can use to define tax types and tax rates, calculate taxes for all transactions where applicable, generate the required tax reports, and pay the collected tax amounts to the Tax Authority.
Value-Added Tax
VAT (Value-Added Tax) is an indirect tax that is collected by businesses on behalf of the Government. This tax is applied at each stage in the supply chain and is ultimately paid by end consumers. VAT is applicable to most goods and services with some exceptions such as basic food items, some medicines, and other essential goods that are tax-exempt.
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