Hi all, Panana Goverment has requested to do witholdings on thier invoices. Then, Panamá AP module needs to record invoices that are subject to Withholdings.
The Withholding is basically the payment of a percentage of the invoice. But, in this case, the Law of Panamá requirement the Withholding should be calculated on a rate (% depends the type of person) on the Tax Line applicability. This payment is deposited into the bank account opened by the Supplier for that purpose. There are many rates (%) for Withholding that required to control into the system.
Panamá needs to record invoices that are subject to Withholdings.
Then We need to :
Create 2 Withholding Tax Group, according to specifications in Major Features
Must use a specific program to generate a monthly statement that shows all the withholdings performed in one month. The present extension is used to export the information from oracle application into a flat file that can be imported in the e-Tax Withholdings Program.
Withholding certificates format.
Do you know if there any solution that doesnt require development or a patch?