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Withholding Tax Calculation based on Period

edited May 2, 2025 9:13AM in Tax & Global 2 comments

Summary:

Withholding Tax Calculation based on Period

Content (please ensure you mask any confidential information):

If we setup the Tax Determination Date = Accounting date.

How do we setup WHT as per below examples?

 For example: 

If between 01 Jan 2025 and 31 Mar 2025, the BG_WHT code has a tax rate of 8%
And between 01 Apr 2025 and 30 Jun 2025, the same BG_WHT code has a tax rate of 10%

A. If the invoice is created with invoice date 31 Dec 2024, but with an accounting date of 01 Feb 2025, the applicable WHT rate will be 8%, because in the setup it has been specified to use the accounting date as tax determination date and not invoice date. 

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