What is With holding tax and what are the options available for enhancements .

Question

Accepted Answer

Withholding tax is a tax deducted at source from payments made to vendors or contractors. Enhancements include customizing tax codes and rates.

Withholding tax is deducted from payments made to vendors or contractors
It is deducted at source and paid directly to the tax authorities
Enhancements include customizing tax codes and rates based on country-specific regulations
Options for enhancements include customizing withholding tax types, tax codes, and rates
Examples of enhancements include adding new tax codes for specific types of payments or vendors

Accepted Answer

With holding Tax can be processed only from vendor at the time of outgoing payment . The Gross / net amount is usually taken as base calculation .

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