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Taxes

VAT Ready Features in Zoho Books

This section will give you a brief overview about the VAT Ready features that are available in Zoho Books.

Configuring your Zoho Books account

Zoho Books is now VAT ready. As part of the rollout, you will have to follow a few basic steps in order to get your organization ready for VAT.

Enabling Tax Settings

To enable the VAT settings for your organisation in Zoho Books:

  • Click Settings on the top right corner of the page.
  • Click Taxes under Taxes & Compliance.
  • In the Taxes pane, click VAT Settings.
  • Check the box Is your business registered for VAT?.
  • Enter the Tax Registration Number and Tax Label.
  • If your business involves international trade (importing or exporting outside GCC), check the box Enable trade with contacts outside Oman.
  • Click Save. Enable Tax Settings

Setting up Tax Rates

Once you’re done with the VAT Settings, the next step is to set up the VAT Rates.

There are two default VAT rates:

  1. Standard Rate (5%)
  2. Zero Rate (0%)

Tax Rates

Editing Taxes

To edit an existing tax:

  • Click the Gear icon on the top right corner of the page.
  • Select Taxes.
    Enable VAT Settings
  • Click the Tax Rates sub-module.
    Tax Rates
  • Click the Edit button on the right side of the tax to edit.
    Tax Rates
  • Click Save.
    Tax Rates
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