Withholding Tax Maintenance

From AutoCount Resource Center

Withholding Tax

Withholding tax is an amount withheld by the third party making payment (payer) on income earned by a non-resident (payee) and paid to the Inland Revenue Board of Malaysia.

Go to Tools > Options > General > Withholding Tax > Enable Withholding Tax

Withholding Tax Maintenance

Go to General Maintenance > Withholding Tax Maintenance

Withholding Tax Code: Name of the tax code, must be unique among all tax codes.

Tax Account No: Select a tax account no. for posting purpose.

Description: Define the description of the tax code.

Tax Percentage: Define the percentage of the tax code.

Receipt/Payment: The Withholding Tax Codes are divided into two types which are the Receipt type and the Payment type.

Go to GL and create a new Payment Voucher.

User can either double click on the value in the Withholding Tax column of the detail portion of the document or pull out the Withholding Tax Detail column from the Column Chooser to have access to a button that opens the Withholding Tax Document window. In this window the user can enter the detail of the Withholding Tax for the particular detail.

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