Setup Taxes
Configure your organization's tax parameters. Phecom ERP comes pre-configured with standard local tax rates for compliance.
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Value Added Tax (VAT)
VAT for Government
5%
VAT for Private
12%
Income Tax Withheld (ITW)
10%
ITW Professional Fees
1%
ITW on Goods
2%
ITW on Services
5%
ITW on Rental
20%
ITW on Royalties
Compliance Note
These tax rates are automatically applied to your transactions based on the account classification. Ensure you verify the specific tax requirements for your industry to maintain absolute compliance.