Issue with setting up Panamanian withholding taxes
Summary
Issue with 'use in withholding tax calculation' check mark at transactional tax when defining two withholding taxes. One needs to include transactional tax in calculation and one should exclude.Content
We are facing a challenge with the tax setup for Panama. We need to setup two different types of withholding taxes:
Type 1: Withholding tax that deducts 50% of sales tax amount
Type 2: Withholding tax that deducts certain percentage of invoice amount excluding sales tax amount
Assume for an invoice both withholding taxes are applicable, with below example:
Line amount: 100,00 USD
Sales tax amount: 21,00 USD
Invoice amount: 121.00 USD
Withholding calculation should be:
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