Global withholding tax
This article provides information about global withholding tax functionality and explains how to set it up. The new functionality is available in version 10.0.17 and later.
Global withholding tax functionality is enhanced for vendor and customer transactions, so that withholding tax is calculated at the item level. The balance in the withholding tax account from purchase transactions can be settled by running the withholding tax payment job against the withholding tax settlement account.
Turn on global withholding tax
- In the Feature management workspace, select Global withholding tax, and then select Enable now.
- Go to Tax > Setup > Parameters > General ledger parameters, and then, on the Withholding tax tab, set the Enable global withholding tax option to Yes.
- Select Save.
- Refresh the page in your web browser.
Global withholding tax functionality can’t be turned on for countries/regions where localized withholding tax solutions already exist. These areas include but are not restricted to India, Brazil, Thailand, Saudi Arabia, Ireland, Great Britain and the United States.