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

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.