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Financial Reporting: How to set-up your Taxes?

Florian
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How to add a Tax?

We don't import taxes from channels. That is why you should set them up in Hostaway.

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  1. Go to Settings > Financials and Coupons
  2. Click on Add Tax
  3. Select the Tax Type
  4. Enter the amount
  5. Choose Type between flat fee or percentage. If percentage, select if it should apply on Base rate and/or cleaning fee
  6. Save

Note 1: It will apply to reservation imported or created after-tax creation. Reservations made before tax creation will not be calculated.
Note 2: When editing an existing tax in Settings, it will update all unchanged tax on the Listing level.
If you have manually changed the tax for a listing, it can only be edited on a Listing Level. Editing on a Settings level will not update this listing.

IMPORTANT These New Taxes will be used to calculate the tax amount for external channels, for the Financial Reporting. We will not take the tax info that external channels send to us since they are too different depending on the channel.
Also, these taxes are used to calculate the total price for Hostaway channels (direct reservations, Booking Engine and WordPress plugin). They are also used in financial reporting to calculate tax amounts for external channels.
For Booking.com and Vrbo we export the Property rent tax % under Listing > Financial fields as well. These taxes apply to all listings unless a different tax is set on the listing page.

For Airbnb and Expedia, taxes have to be managed in the channel directly.

 

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Taxes and fields

STANDARD FIELDS

 

DESCRIPTION

 

vat/GST

European Value Added Tax added over products and services- e.g. in Spain is 21%
Good Services Tax - is best described as a sales tax that applies not only to finished products but also to services as well.

hotelTax

A hotel tax or lodging tax is charged in most of the United States, including California, to travellers when they rent accommodations in a hotel, inn, tourist home or house, motel, or other lodgings, generally, unless the stay is for a period of 30 days or more.

lodgingTax

A hotel tax or lodging tax is charged in most of the United States, including California, to travelers when they rent accommodations in a hotel, inn, tourist home or house, motel, or other lodgings, generally, unless the stay is for a period of 30 days or more.

salesTax

sales tax is a tax paid to a governing body for the sales of certain goods and services in the US. A value-added tax (VAT) collected on goods and services is similar to a sales tax.

transientOccupancyTax

ToT is a tax that is usually combined with hotel and lodging taxes but can also contain other industry-specific taxes. 

cityTax/Tourism Tax

in Europe city tax = tourism tax and it is a tax that the guest pays directly.

roomTax

Similar to city tax in Europe or Hotel Tax in the US

otherTaxes

Any other tax that we are not considering above.