How can I add a 12% vat ? is it a recoverable or not?

jhoanne

Here in the Philippines we used to add a 12% vat but how can i add it in the sales and purchases. Thank you.

Finn_Kingsland

You can create a tax from your settings. There's a sales tax page on there somewhere, @jhoanne.

As for whether it's recoverable or not, you'll have to check that out for yourself. I'm not sure how taxes work in the Philippines. Every country deals with taxes differently. If all else fails, asking an accountant is never a bad idea.