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Withholding Tax amount conversion when Ledger Currency is different from Tax Currency.

edited Mar 27, 2024 3:43AM in Tax & Global 2 comments

Summary:

  • For Transaction Tax, the function to handle the difference between Ledger Currency and Tax Currency is well available to be setup in the Regime.
  • For Withholding Tax, this function is missing. I only fond that, at least, the table ZX_WHT_LINES_SUMMARY and ZX_WITHHOLDING_LINES already have columns to handle WHT Currency Rate Conversion.
  • However, for the Tax Authorities' perspective, they would commonly require all kind of tax to be reported in single national currency. Therefore, if Transaction Tax to be reported in local currency AAA, then it is commonly that Withholding Tax need to be reported to the Tax Authority in the same AAA currency as well.

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