The list of taxes which may be included in invoices. You may specifyNameandRate(in percent) for each tax. Later, when preparing a new invoice, you may select taxes for each row and corresponding amount will be added to the job amount.
Gross-based mark allows to calculate tax amount based on the gross amount, instead of net. Example: invoice net amount is 900 USD, and tax rate is 10%. For net-based calculations, gross amount will be determined as 900 * (100 + 10) / 100 = 990. For gross-based taxes final amount will be determined using the following formula: 900 / (100 - 10) * 100 = 900 / 0.9 = 1000.
In addition, you may specify default tax in the settings, which will be automatically applied to all newly created invoices.