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Each country or region will have specific rules regarding what should or should not be taxed. There will also be very strict regulations on how taxable transaction transactions should be recorded and tracked in the general ledger or chart of accounts.

These includeTax authority setup allows configuration of the following :

• Income tax
• Value Added Tax (VAT) / Goods and Services Tax (GST)
• Import / Export tax /Custom and Excise Duty
• State, City or County taxes

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