Did you know that you can very easily assign one type of VAT rate to all products, and services you offer? If you are not a VAT payer, you will not see the VAT rates tab and therefore you will not be able to set them.
However, if you are a VAT payer, first create a VAT rate. Do the following:
Open the Sales — VAT rates.
Click the blue + New VAT Rate button in the top right corner.
Then fill in all the necessary details:
VAT rate name — your customers won't see it anywhere, it's just for your reference.
Rate — this is the most important information. Enter a number here that will represent, in percentage, the VAT rate you want to set.
Type — choose between added or deducted. You will learn the difference between them here.
Confirm the addition of the new VAT rate with the blue Save button.
If this is the first VAT rate you create, it will automatically be assigned to all the services, and products you offer.
However, if you want to use a different VAT rate as your default, do the following:
Open the selected VAT rate.
Click on the three dots in the top right corner.
Select Set as default.
ATTENTION: Take note when updating the default VAT rate. If you are currently using VAT rate A (for example 10%) and need to set VAT rate B (for example 15%) as the default VAT rate, create it and set it as the default through the three dots. From this point on, the system will see the default VAT rate as B. However the services that had the original VAT rate A assigned will not automatically be reassigned (so they will stay with the original rate A). The system will automatically apply the new default VAT rate B only to newly created products, and services.