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Withholding Tax Setup
I am stuck trying to set up withholding tax for sales from our New Zealand Office to Fiji, which requires 15% WT on sales of software and services.
I set up a new currency (FJD), tax agency vendor (Fiji Revenue and Customs Authority), and tax nexus (Fiji Tax Nexus).
The system auto-created a few tax control accounts for VAT, and a tax code UNDEF-FJ, which is set to 0% and excluded from VAT reports (required before installing Withholding Tax).
I then installed the Withholding Tax SuiteApp, and set up the Withholding Tax Preferences for Fiji Tax Nexus.
In preparation for creating a new withholding tax type I set up two new tax control accounts for the withholding tax, one for sales and one for purchases. All good so far!
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