You cannot calculate or report Withholding Tax for Japan in this release.
Reproducing the Issue
- Go to the Supplier Invoicing work center.
- Click New Supplier Invoice under Common Tasks.
- Click View All> Items> Withholding Tax tab.
The system does not give you options to enter withholding tax codes for Japan.
In the current release, the system does not support withholding tax calculation or reporting for Japan.
For Tax Calculation:
- In the Supplier Invoicing work center, select the invoice which requires WHT deduction and post the invoice for the entire amount.
- Calculate the withholding tax amount outside the system manually.
- In the Payables work center, open the Supplier Account view and select the supplier account that you require.
- Click View to open the Supplier Account Monitor screen. Select the open item and choose New Charge/Credit to open the New Charge/Credit screen.
- In the Charge/Credit screen, select Supplier Charge in the Charge/Credit field.
- Under the header, Line Items, add WHT – Creating liability in the General Ledger Account column. In the Amount field, enter the withholding tax amount that was computed outside the system.
- Go to the Payment Management work center and select New Outgoing Check.
- Select the tax authority and select Direct Posting to G/L Account under the header Payment Application Method.
- Select the G/L account and enter the amount.
- Click Release to make the tax payment.
- Transfer the under/overpayment amount to the balance sheet account created for recording tax payable to the Government
For Tax Reporting:
- In the Tax Management work center, got to Reports -> List -> Withholding Tax Items.
- The Withholding Tax Items report will have all the details you need. Take a printout manually and file your returns outside the system.
KBA , SRD-FIN-FA , Fixed Assets , Product Enhancement