How to Map Withholding Tax Observed by Company?
Dear All,
Our Business requirement is WHT is Observed by Company need to be automate. Meaning it is WHT is non recoverable for some business scenario.
Example is.
Supplier ABC is Foreign Vendor and not agreed to pay WHT tax. Business would like to purchase item from Vendor.
Company agreed to observe the WHT Tax and paid to Tax Authority. We need to implement to automate to generate the WHT Invoices to Tax authority by Gross Up amount.
Supplier ABC supplied Item against the PO for the Item A 10 @ 10.000 = 100.000.
AP Invoices is booked against (3 Way Match) for the line amount 100.000 and Invoice amount is gross up of 109.900 (header) and second line is 9.900 is WHT Expense Account is booked.