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Answer Posted / moses
The amount which is deducted from the supplier invoice and withheld with the company for the purpose of paying that amount to the tax authority on behalf of the supplier is called withholding tax.
SETUP
1. Create a Special Calendar for withholding tax
2. Create a supplier of Type Tax Authority
3. Create Tax Code
Give the Tax Code name and Select the type as withholding Tax.
Give the GL Account for withholding tax.
Provide the withholding tax details:
Select the Tax Authority, site and the withholding special calendar
Rate Structure like
flat rate /amount ranges / period limit
Select the Tax type : Standard / Penalty
And give the rate.
4. Create a withholding tax group
Now allow the withholding tax for the suppliers to whom you want to withhold the amount for tax. This is achieved by enabling the allow withholding while supplier creation step.
So, whenever you create an invoice the withholding tax will be applicable for that supplier.
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