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What does "Basket Settings" do?

Under "Basket Settings" you assign the VAT Options, such as the VAT Rate, and whether the prices
are shown with or Without VAT (Gross or Net). Also you will have the option to Charge VAT to
commercial Customers from with in the EU.

You can also assign the Primary and Secondary currency types.
You can choose a prefix and the amount/amount and suffix but not both.

Please check the currency rates while setting up secondary currency type.