Tax Breakdown

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One of the topics that people often leave out, perhaps because it is tedious or perhaps because they don’t give it the importance it deserves, is that of taxes. If you own an ecommerce you need to know your tax obligations to know what taxes your online store must pay.

Knowing the above, it will be much easier for you to estimate the quarterly payments and make a general balance of expenses that you can contrast with your income. We know that this is not a very attractive topic, but we assure you that it is very important to take this aspect into account, especially if you bear in mind that it will influence the prices of your purchases and sales.

Table of Contents

Taxing products in an online shop

Taxes are a mandatory contribution that every worker or company must make to the state, by means of a small charge to the companies’ income or by adding an extra cost on the goods, services or transactions. This means that every product we sell or buy will have a small sales tax that will depend on the tax laws of the different states.

The amount of taxes that exist around the world is enormous, and they vary depending on the activity or consideration of each country. That is why when opening your ecommerce have very clear regulations that must be met. And although we know that it can be something tedious and that you would prefer not to do it, we assure you that this will give many benefits to your company and will avoid problems in the long run.

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Managing taxes in PrestaShop

If you are interested in opening a virtual business and the payment of the different taxes is something that does not let you sleep, we recommend that you use PrestaShop as a creation platform. With it you can apply a tax to all countries. If you want to apply a specific rate for a country, you must create a tax rule; this is to specify which countries are excluded and which others you include.

Create Tax Rule in PrestaShop

There will be cases where you will need a specific product, or group of products, to have a tax; this can happen for different reasons such as regulations in different countries. Therefore, it is important that you know how to create a tax rule in PrestaShop.

To do this, you must go to the “Prices” tab when creating each product. You should know that you cannot apply a tax to a single product, for this reason there is a tax rule. What you must do is register all the taxes and then create a tax rule for them, this will allow you to specify the countries to which it will apply.

PrestaShop gives you some examples of tax rules, all depending on the country you selected during its installation. Once you have created all the taxes, you need to go to the “Tax rules” tab, where you can see all the rules you have registered. If you want to add a new one, just click on the “Add New” button, then fill out the form that will be displayed.

Conclusion

Taxes are part of our business. That’s why it’s important to know how to apply them well. And it doesn’t hurt to have the help of our POS. So if you have any questions about the breakdowns or how our POS can help you, leave a comment!

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