To setup a new tax go to Reference Data and then to the Tax tab.
In CoreTRM, tax and tax rates can be setup. When a tax type is setup, tax type can be selected in Operations -> Transactions. This information will then be updated in settlement automatically.
To set up a new Tax:
1. Click on to create a new line.
2. In Tax Type Name, enter the name of the tax.
3. In Tax Rate, enter the rate applicable for the tax type.
4. Click to confirm creation.
5. To edit tax details after creation, Click to edit.