Create New Withholding Tax Regime
You can set up a new withholding tax regime tailored to the specific requirements of your organization or jurisdiction. This will ensure smooth and compliant tax withholding procedures.
Here’s how you can create a new withholding tax regime:
- Go to the Setup and Maintenance section in the Navigator.
- Locate and select the Manage Tax Regimes task.
- Open the Manage Tax Regimes UI.
- Select the Withholding Tax option and click on the Create icon.
- Provide the necessary information for the new tax regime.
- Specify the legal entity that is subscribed to this regime in the Configuration Options.
- Save your changes and close the page.
Note: Please note that this is just a possible setup for withholding
tax and tax rules. Make sure you set up the withholding tax according to current tax
legislation.