Withh. Taxes-Contribution Card Window

Specifies withholding taxes that have been applied to a purchase invoice. This includes withholding taxes on a non-inventory services, social security, and Italian Workers’ Compensation Authority (INAIL) taxes.

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Additional Information

A company that employs independent contractors or consultants is legally responsible for withholding a percentage of purchase invoice amounts at the time of payment. This amount is paid to the government as an advance on the income taxes that the vendor will owe at the end of the year. Withholding tax is calculated during invoice payment rather than during invoice posting.

Certain independent contractors or consultants are subject to social security withholding taxes. You are required by law to withhold a predetermined percent of the social security taxes due and remit the amount to the Instituto Nazionale Previdenza Sociale (INPS). The vendor is responsible for paying the remaining social security tax liability.

INAIL is responsible for providing compulsory insurance against accidents at work and occupational diseases. Under provisions of the law, a company is required to insure independent contractors or consultants against the risk of possible accidents in the workplace or diseases caused by working activities.

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See Also

Other Resources

How to: Set Up Withholding Tax
How to: Print Withholding Tax Reports
How to: Create Purchase Invoices
How to: Post Purchase Invoices