Income Tax & Social Contribution Limits (tctax0117m000)
Use this session to:
- Specify the maximum tax base amount for an invoice-from business partners
- Register or update the amount over which other organizations have already withheld the income tax and/or social contributions.
- View the amount over which your own company has already withheld the income tax and/or social contributions.
- Print a report of the tax amounts withheld by your company.
To calculate the most accurate value of the Tax Base Consumed (Company) amount, LN also includes the non-finalized transactions.
The business partner must provide you with statements of the amounts over which other organizations have already withheld income tax and/or social contributions during the year.
If the tax base consumed equals the tax base limit, for transactions that are subject to withholding tax the withheld amount is zero and the amounts in this session remains unchanged.
To set up tax base limits for a range of invoice-from business partners at once, on the appropriate menu, click . The Generate Limits of Income Tax and Social Contribution (tctax0217m000) session starts. You can use this session to set up a tax base limit for a range of invoice-from business partners and one type of tax (income tax or social contribution), tax category, and tax year.
Field Information
- Business Partner
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The business partner to which the limits apply.
- Tax
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The kind of tax to which the limits apply.
- Tax Category
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The tax category to which the limits apply.
- Tax Year
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The tax year in which the limit is valid.
- Tax Base Limit
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The maximum amount over which tax is calculated, in the local currency.
- Tax Base Consumed (Others)
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The amount over which tax has already been withheld during the year by other organizations, as stated by the business partner.
- Tax Base Consumed (Company)
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The amount over which tax has already been withheld during the year by your company.
The amount includes non-finalized transactions.
- Tax Withheld (Company)
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The total tax amount withheld by your company for the business partner.
If the sum of the Tax Base Consumed (Others) and the Tax Base Consumed (Company) has reached the Tax Base Limit, the amount in this field no longer changes.