Financing, tax rates, and accounting
Hi!
I got a store that's registered to collect taxes in Finland. Under Settings -> Taxes & Duties -> European union I've created a product override to collect 14% taxes on applicable products. However, at checkout the tax percentage calculation does not add up.
For example, from a total of 50€, 6,14€ taxes is collected. That's 12,28% instead of 14%. The same problem is with products without the tax override. The default tax should be 24%, but from a total of 50€, 9,68€ taxes is collected. That's 19,36%.
Am I missing something here? What could be the reason for this behaviour?
Thanks in advance for replies!
Solved! Go to the solution
This is an accepted solution.
Turns out the calculation is correct, I just was unclear on how it works. It's explained pretty well here:
Hello @teemukostamo ,
You can check if the tax calculation is being rounded by Shopify. Here's how:
Hope this can help you out.
Jen from TrueProfit.
This is an accepted solution.
Turns out the calculation is correct, I just was unclear on how it works. It's explained pretty well here:
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