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Default Tax Rate

Based on organization version Xero generates default tax types for you.

Here is the list of those constraints.

 

 

Global

 

CodeNameRevenue   Expenses  Liabilities  Equity   Assets
GSTONIMPORTSSales Tax on Imports
NONETax Exempt
INPUTTax on Purchases
OUTPUTTax on Sales


US

 

CodeNameRevenue   Expenses   Liabilities   Equity   Assets
OUTPUTTax on Sales
GSTONIMPORTSSales Tax on Imports
NONETax Exempt
INPUTTax on Purchases


NZ

 

CodeName Revenue  Expenses  Liabilities  Equity  Assets
INPUT12.5% GST on Expenses
OUTPUT12.5% GST on Income
INPUT215% GST on Expenses
OUTPUT215% GST on Income
GSTONIMPORTSGST on Imports
NONENo GST
ZERORATEDZero Rated


AU

 

CodeNameRevenue  Expenses   Liabilities   Equity  Assets
BASEXCLUDEDBAS Excluded
EXEMPTCAPITALGST Free Capital
EXEMPTEXPENSESGST Free Expenses
EXEMPTEXPORTGST Free Exports
EXEMPTOUTPUTGST Free Income
CAPEXINPUTGST on Capital
GSTONCAPIMPORTSGST on Capital Imports
INPUTGST on Expenses
GSTONIMPORTSGST on Imports
OUTPUTGST on Income
INPUTTAXEDInput Taxed


GB

 

CodeNameRevenue  Expenses  Liabilities  Equity   Assets
CAPEXSRINPUT15% (VAT on Capital Purchases)
CAPEXSROUTPUT15% (VAT on Capital Sales)
SRINPUT15% (VAT on Expenses)
SROUTPUT15% (VAT on Income)
CAPEXINPUT17.5% (VAT on Capital Purchases)
CAPEXOUTPUT17.5% (VAT on Capital Sales)
INPUT17.5% (VAT on Expenses)
OUTPUT17.5% (VAT on Income)
CAPEXINPUT220% (VAT on Capital Purchases)
CAPEXOUTPUT220% (VAT on Capital Sales)
INPUT220% (VAT on Expenses)
OUTPUT220% (VAT on Income)
RRINPUT5% (VAT on Expenses)
RROUTPUT5% (VAT on Income)
EXEMPTINPUTExempt Expenses
EXEMPTOUTPUTExempt Income
NONENo VAT
GSTONIMPORTSVAT on Imports
ECZRINPUTZero Rated EC Expenses
ECZROUTPUTZero Rated EC Goods Income
ECZROUTPUTSERVICESZero Rated EC Services
ZERORATEDINPUTZero Rated Expenses
ZERORATEDOUTPUTZero Rated Income