1 Topic by smokinjo (edited by smokinjo 03/29/2010 09:54:20 pm)

  • From: Canada
  • Registered: 03/08/2010
  • Posts: 34

Topic: How to do tax on a tax - sales taxes

I live in Quebec.

They seem to have a slightly different system than other places.

You buy an item for

$100

You get charge 5% federal sales taxes ($5)

$105 is the total after the first tax.

Then, you add the provincial tax (7.5%) ($7.88)

$112.88

The second tax taxes the initial sum, and also taxes the first sales tax.

My questions:

How can I set this up in FA?

Thanks

Joe

  • joe
  • Administrator
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: How to do tax on a tax - sales taxes

Hello,

If this is the fact, then you would set it up as follow:
In Tax type, setup a fed tax 5%, value 5
Provincial tax 7.5%, value 7.88
Then combine them into a group, and you are done.
Maybe there are some Canadians that can help me further here?

/Joe