Understanding & Configuring Taxes
A business has to comply with tax regulations depending upon various factors, including but not limited to:
- Types of Government agencies depending upon where you operate: Local, Municipal, County, District, State, and Central Government.
- Where your transaction originates from and ships to. (Nexus Compliance)
- Nature of business.
- Exemptions depending upon whom you have business with.
- Exceptions, such as tax holidays.
- Requirement of frequent tax report filing and remit.
MixERP encapsulates a highly parameterized design to help achieve complex tax compliance in a multi-establishment environment. It is, therefore, very important to understand how taxation works in MixERP. These are the various types of tax supported by MixERP: