Create Tax Year – A summary of the activity

Through this activity, you can define a tax year applicable for a tax setup unit. Tax year refers to a period for which the taxes are computed and paid to the respective authorities.

Creating a tax year is a prerequisite for creating and maintaining a tax structure.

It involves specifying

• A unique code and description identifying a tax year.

• The period for which the tax year is effective by specifying the start and end dates.

Getting familiar with the pages inside

6      Hyperlinked topics below

Prerequisites

None

What you can do in this activity

Create a tax year

Create a tax year

You can create a tax year and make it applicable for a tax setup unit.

• Select the “Create Tax Year” page.

• Specify a unique code and description.

• Specify the start date and the end date for the tax year.

• Save the details entered.