These Taxes will be reflected at Sales module while purchasing a product, making an invoice etc.
Go to Global Settings–> Taxes–> Add New
Create a New Tax in this page where the fields to be filled are:
Name: Name of the Tax.
Rate: Tax rate value.
Rate Type: Rate type like Percentage/Value.
Description: Brief description on tax.
View button allows to see all the tax details.
By clicking on view, we can monitor the respective Tax detailed history on various modules like Invoices, Quotes, Recurring Invoices and Purchase Orders.