Let's Reconnect, thank you for making 2022 our best year yet.

Look Back
Withhold amount excl VAT when VAT is applicable — Cloud Customer Connect
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Withhold amount excl VAT when VAT is applicable

Received Response
20
Views
4
Comments
edited Aug 27, 2019 2:30PM in Tax & Global 4 comments

Summary

An amount has to be withheld on all invoices that mention VAT. The percentage that needs to be withheld is 6% of the paid amount excl. VAT

Content

Hi guys,

Anyone knows how to setup the following?

In Kenya an amount has to be withheld on all invoices that mention VAT (where VAT is applicable and >0%). The percentage that needs to be withheld is 6% of the paid amount excl. VAT.

I have done similar setup, but where VAT amount had to be withheld instead of amount excl VAT. Any suggestions? I tried working with Tax Applicability rule but so far no luck, as it is calculating withholding over VAT instead of invoice amount excl VAT. 

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!