diff --git a/src/libs/TransactionUtils/index.ts b/src/libs/TransactionUtils/index.ts
index c203a6e912c7..1f68928532c2 100644
--- a/src/libs/TransactionUtils/index.ts
+++ b/src/libs/TransactionUtils/index.ts
@@ -829,10 +829,11 @@ function getUpdatedTransaction({
 
     if (Object.hasOwn(transactionChanges, 'category') && typeof transactionChanges.category === 'string') {
         updatedTransaction.category = transactionChanges.category;
-        const {categoryTaxCode, categoryTaxAmount} = getCategoryTaxCodeAndAmount(transactionChanges.category, transaction, policy);
-        if (categoryTaxCode && categoryTaxAmount !== undefined) {
+        const {categoryTaxCode, categoryTaxAmount, categoryTaxValue} = getCategoryTaxDetails(transactionChanges.category, transaction, policy);
+        if (categoryTaxCode && categoryTaxAmount !== undefined && categoryTaxValue) {
             updatedTransaction.taxCode = categoryTaxCode;
             updatedTransaction.taxAmount = categoryTaxAmount;
+            updatedTransaction.taxValue = categoryTaxValue;
         }
     }
 
@@ -2586,10 +2587,10 @@ function buildMergeDuplicatesParams(
     };
 }
 
-function getCategoryTaxCodeAndAmount(category: string, transaction: OnyxEntry<Transaction>, policy: OnyxEntry<Policy>) {
+function getCategoryTaxDetails(category: string, transaction: OnyxEntry<Transaction>, policy: OnyxEntry<Policy>) {
     const taxRules = policy?.rules?.expenseRules?.filter((rule) => rule.tax);
     if (!taxRules || taxRules?.length === 0 || isDistanceRequest(transaction)) {
-        return {categoryTaxCode: undefined, categoryTaxAmount: undefined};
+        return {categoryTaxCode: undefined, categoryTaxAmount: undefined, categoryTaxValue: undefined};
     }
 
     const defaultTaxCode = getDefaultTaxCode(policy, transaction, getCurrency(transaction));
@@ -2601,7 +2602,7 @@ function getCategoryTaxCodeAndAmount(category: string, transaction: OnyxEntry<Tr
         categoryTaxAmount = convertToBackendAmount(calculateTaxAmount(categoryTaxPercentage, getAmount(transaction), getCurrencyDecimals(getCurrency(transaction))));
     }
 
-    return {categoryTaxCode, categoryTaxAmount};
+    return {categoryTaxCode, categoryTaxAmount, categoryTaxValue: categoryTaxPercentage};
 }
 
 /**
@@ -2907,7 +2908,7 @@ export {
     shouldShowAttendees,
     getAllSortedTransactions,
     getFormattedPostedDate,
-    getCategoryTaxCodeAndAmount,
+    getCategoryTaxDetails,
     isPerDiemRequest,
     isViolationDismissed,
     isPartialTransaction,
diff --git a/src/libs/actions/IOU/index.ts b/src/libs/actions/IOU/index.ts
index bedf63ad6636..13acd104071b 100644
--- a/src/libs/actions/IOU/index.ts
+++ b/src/libs/actions/IOU/index.ts
@@ -62,7 +62,7 @@ import {startSpan} from '@libs/telemetry/activeSpans';
 import {
     buildOptimisticTransaction,
     getAmount,
-    getCategoryTaxCodeAndAmount,
+    getCategoryTaxDetails,
     getCurrency,
     getDistanceInMeters,
     isDistanceRequest as isDistanceRequestTransactionUtils,
@@ -899,15 +899,13 @@ function setMoneyRequestCategory(transactionID: string, category: string, policy
         return;
     }
     if (!policy) {
-        setMoneyRequestTaxRate(transactionID, '');
-        setMoneyRequestTaxAmount(transactionID, null);
+        setMoneyRequestTaxRateValues(transactionID, {taxCode: '', taxAmount: null, taxValue: null});
         return;
     }
     const transaction = allTransactionDrafts[`${ONYXKEYS.COLLECTION.TRANSACTION_DRAFT}${transactionID}`];
-    const {categoryTaxCode, categoryTaxAmount} = getCategoryTaxCodeAndAmount(category, transaction, policy);
-    if (categoryTaxCode && categoryTaxAmount !== undefined) {
-        setMoneyRequestTaxRate(transactionID, categoryTaxCode);
-        setMoneyRequestTaxAmount(transactionID, categoryTaxAmount);
+    const {categoryTaxCode, categoryTaxAmount, categoryTaxValue} = getCategoryTaxDetails(category, transaction, policy);
+    if (categoryTaxCode && categoryTaxAmount !== undefined && categoryTaxValue) {
+        setMoneyRequestTaxRateValues(transactionID, {taxCode: categoryTaxCode, taxAmount: categoryTaxAmount, taxValue: categoryTaxValue});
     }
 }
 
diff --git a/tests/unit/TransactionUtilsTest.ts b/tests/unit/TransactionUtilsTest.ts
index f31609cb4f62..ed5fb28a0594 100644
--- a/tests/unit/TransactionUtilsTest.ts
+++ b/tests/unit/TransactionUtilsTest.ts
@@ -192,7 +192,7 @@ describe('TransactionUtils', () => {
         });
     });
 
-    describe('getCategoryTaxCodeAndAmount', () => {
+    describe('getCategoryTaxDetails', () => {
         it('should return the associated tax when the category matches the tax expense rules', () => {
             // Given a policy with tax expense rules associated with a category
             const category = 'Advertising';
@@ -204,11 +204,12 @@ describe('TransactionUtils', () => {
             const transaction = generateTransaction();
 
             // When retrieving the tax from the associated category
-            const {categoryTaxCode, categoryTaxAmount} = TransactionUtils.getCategoryTaxCodeAndAmount(category, transaction, fakePolicy);
+            const {categoryTaxCode, categoryTaxAmount, categoryTaxValue} = TransactionUtils.getCategoryTaxDetails(category, transaction, fakePolicy);
 
-            // Then it should return the associated tax code and amount
+            // Then it should return the associated tax code, amount, and value
             expect(categoryTaxCode).toBe('id_TAX_RATE_1');
             expect(categoryTaxAmount).toBe(5);
+            expect(categoryTaxValue).toBe('5%');
         });
 
         it("should return the default tax when the category doesn't match the tax expense rules", () => {
@@ -223,11 +224,12 @@ describe('TransactionUtils', () => {
             const transaction = generateTransaction();
 
             // When retrieving the tax from a category that is not associated with the tax expense rules
-            const {categoryTaxCode, categoryTaxAmount} = TransactionUtils.getCategoryTaxCodeAndAmount(selectedCategory, transaction, fakePolicy);
+            const {categoryTaxCode, categoryTaxAmount, categoryTaxValue} = TransactionUtils.getCategoryTaxDetails(selectedCategory, transaction, fakePolicy);
 
-            // Then it should return the default tax code and amount
+            // Then it should return the default tax code, amount, and value
             expect(categoryTaxCode).toBe('id_TAX_EXEMPT');
             expect(categoryTaxAmount).toBe(0);
+            expect(categoryTaxValue).toBe('0%');
         });
 
         it("should return the foreign default tax when the category doesn't match the tax expense rules and using a foreign currency", () => {
@@ -254,11 +256,12 @@ describe('TransactionUtils', () => {
             const transaction = generateTransaction();
 
             // When retrieving the tax from a category that is not associated with the tax expense rules
-            const {categoryTaxCode, categoryTaxAmount} = TransactionUtils.getCategoryTaxCodeAndAmount(selectedCategory, transaction, fakePolicy);
+            const {categoryTaxCode, categoryTaxAmount, categoryTaxValue} = TransactionUtils.getCategoryTaxDetails(selectedCategory, transaction, fakePolicy);
 
-            // Then it should return the default tax code and amount
+            // Then it should return the default tax code, amount, and value
             expect(categoryTaxCode).toBe('id_TAX_RATE_2');
             expect(categoryTaxAmount).toBe(9);
+            expect(categoryTaxValue).toBe('10%');
         });
 
         describe('should return undefined tax', () => {
@@ -276,11 +279,12 @@ describe('TransactionUtils', () => {
                 };
 
                 // When retrieving the tax from the associated category
-                const {categoryTaxCode, categoryTaxAmount} = TransactionUtils.getCategoryTaxCodeAndAmount(category, transaction, fakePolicy);
+                const {categoryTaxCode, categoryTaxAmount, categoryTaxValue} = TransactionUtils.getCategoryTaxDetails(category, transaction, fakePolicy);
 
-                // Then it should return undefined for both the tax code and the tax amount
+                // Then it should return undefined for the tax code, amount, and value
                 expect(categoryTaxCode).toBe(undefined);
                 expect(categoryTaxAmount).toBe(undefined);
+                expect(categoryTaxValue).toBe(undefined);
             });
 
             it('if there are no policy tax expense rules', () => {
@@ -294,11 +298,12 @@ describe('TransactionUtils', () => {
                 const transaction = generateTransaction();
 
                 // When retrieving the tax from a category
-                const {categoryTaxCode, categoryTaxAmount} = TransactionUtils.getCategoryTaxCodeAndAmount(category, transaction, fakePolicy);
+                const {categoryTaxCode, categoryTaxAmount, categoryTaxValue} = TransactionUtils.getCategoryTaxDetails(category, transaction, fakePolicy);
 
-                // Then it should return undefined for both the tax code and the tax amount
+                // Then it should return undefined for the tax code, amount, and value
                 expect(categoryTaxCode).toBe(undefined);
                 expect(categoryTaxAmount).toBe(undefined);
+                expect(categoryTaxValue).toBe(undefined);
             });
         });
     });
@@ -327,6 +332,7 @@ describe('TransactionUtils', () => {
             expect(updatedTransaction.category).toBe(category);
             expect(updatedTransaction.taxCode).toBe(taxCode);
             expect(updatedTransaction.taxAmount).toBe(5);
+            expect(updatedTransaction.taxValue).toBe('5%');
         });
 
         it('should update transaction when distance is changed', () => {