What is the function of the Statutory Fields tab on the Basic Company Information screen?

What is the function of the Statutory Fields tab on the Basic Company Information screen?

This feature is available on all PaySpace editions.
The Statutory Fields tab is located on the Basic Company Information screen.

In addition to governing the tax rules for the payroll, the tax authority selected on the Company Details tab will determine the required fields to be completed within this tab.

      Navigate > Configuration > Basic Settings > Company Settings > Basic Company Information > Statutory Fields