Withholding Tax Overview

Important:

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

General Notices