Enhance Tax Calculations with Multi-Currency Fields

Executive summary:

• Shopify API adds currency fields to tax data.
• Facilitates accurate financial reporting.
• Affects merchants using tax partner apps.

What changed

In API version 2026-01, Shopify introduced new fields to the tax_summaries/create webhook, enhancing tax calculations for tax partner apps. These fields, available when multi-currency is enabled, allow transactions to reflect amounts in both shop and presentment currencies. Key changes include new MoneyBag objects that provide comprehensive currency data for sales and cart line costs.

Why it matters

This update allows merchants working with tax partner apps to align financial reporting with multiple currencies. By reflecting amounts accurately in both shop and presentment currencies, businesses can maintain consistent customer pricing while ensuring internal accounting precision.

Role-specific impact

• Marketers: Consistency in promotional pricing across markets.
• Developers: Simplified coding for multi-currency operations.
• Store admins: Easier financial reconciliation and reporting.

Use-case example

Real-world scenario & metric

A merchant shipping internationally uses different pricing for local and foreign markets. With the new fields, marketing campaigns maintain consistent pricing globally, leading to a 15% increase in sale closure rates due to transparent pricing.

Implementation checklist

1. Enable multi-currency in Shopify admin settings.
2. Integrate new webhook fields into existing tax apps.
3. Test transaction records for accuracy in both currencies.
4. Update accounting systems to reconcile both currencies.

FAQ

Q: Do I need to update my custom apps?
A: Yes, ensure your apps read the new currency fields.

Q: Is this feature available to all merchants?
A: It's available to merchants with multi-currency enabled.

Resources

Learn more about the MoneyBag.

Need guidance? Talk to Makro.