Withholding Tax Types

A withholding tax type is required for each type of withholding tax to be calculated. For example, these withholding tax types might be defined:

  • Withheld corporation income tax
  • Withheld gross revenue tax
  • Withheld value added tax.
Note: You do not need to define separate withholding tax types if different rates apply to groups of accounts or transactions. The tax rate tables are defined as calculation rules for a withholding tax type.

When you have defined a withholding tax type, you must define the calculation rules to identify which withholding tax percentages to apply.

Withholding Tax Types (WTT)

Select Withholding Tax Types (WTT).