Withholding Tax Overview
The topics here cover withholding tax for NetSuite accounts without the SuiteTax feature enabled. If you're using an account with SuiteTax enabled, go to Withholding Taxes in SuiteTax.
Withholding tax isn't getting new features and reports in accounts without SuiteTax. Updates to the Withholding Tax SuiteApp now include only fixes for reported issues.
You can use NetSuite to calculate withholding taxes on transactions and generate withholding tax reports.
In many countries, governments require buyers to withhold part of what they pay sellers or service providers and remit it to the local tax agency. Withholding tax helps the government collect the income tax from these transactions.
With the NetSuite Withholding Tax SuiteApp, you can record the effect of withholding tax on both sales and purchases, either when accrued or when paid, depending on the country's taxation rules.
On bills, checks, invoices, and cash sales, you can deduct withholding tax from each line item, or from the total amount.
To understand how to use NetSuite to track and report withholding taxes, read the following topics:
Related Topics
- Creating or Customizing Roles to Use Withholding Tax Features
- Setting Up Withholding Tax Preferences
- Setting Up Withholding Tax Types
- Setting Up Withholding Tax Codes
- Setting Up Withholding Tax Groups
- Withholding Taxes on Bills
- Withholding Taxes on Bill Payments
- Withholding Taxes on Checks
- Withholding Taxes on Invoices
- Withholding Taxes on Payment Acceptance
- Withholding Taxes on Cash Sales
- Importing Withholding Tax Transactions Using CSV Import
- Importing Withholding Tax Transactions Using SOAP Web Services
- Withholding Tax Error Codes
- Withholding Tax Troubleshooting Guide
- Known Limitations of the Withholding Tax SuiteApp