Withholding Tax Types (WTT) - Basic Details

  1. Open Withholding Tax Types (WTT).
  2. Specify this information:
    Withholding Tax Type
    The code identifying the type of withholding tax. You must create a separate code for each different type of withholding tax you want to calculate. For example, you may require one type to calculate withheld corporation tax, and another to calculate withheld gross revenue tax.
    Tax account code
    The account code in the nominal ledger to which the calculated withholding tax is posted.
    Note:  You must create a separate withholding tax code for each different tax account you require.
    Description
    A description of the withholding tax. For example, Withheld Corporation Tax.
  3. Save your changes.