The section about country tax rates is used to define the tax rate per tax type for each country in BFS. A tax type could be for example taxes on dividends, coupon interest etc.
In the example above the tax rate for the United States is set to 30% for dividends. This means that if the house (we who operate BFS) is based in the US and we have a customer that is taxable in the US who receives a dividend from a US company we are going to withhold 30% of the dividend amount as tax for the US and place those funds into a separate BFS account owned by the house. This is further explained in Get started with tax management in BFS.
Click on Create to create a new entry.
Enter the properties below.
Property | Description |
|---|---|
Tax Country | The country where the tax rate should apply |
Tax Type | Select any of the installed tax types in your BFS instance |
Tax Rate | Enter the percentage value, enter 15 for 15% |