Create an effective dated tax definition

Steps

1. Open Tax Studio and the tax-definition form using authorised financial setup access.

2. Enter Code and Name, choose percentage or fixed tax, and set inclusive or exclusive application and the taxable basis.

3. Enter the configured rate as a decimal or the fixed amount; complete currency, caps, rounding and compound order where applicable.

4. Set effective start/end dates and active state, then choose Create Definition.

5. Confirm the new definition. Use a new effective-dated definition for a changed policy; do not rewrite historical tax settings to repair past bills.