International Withholding Tax
Hi We recently invoiced a company in India and when paying they have deducted 20.8% withholding tax. What is the best way to record this deduction for tax purposes. thanks
Forum Discussion
HI michlsa,
Thank you for your post.
In this matter, if you do need to deduct a portion of an invoice for tax purposes, you would need to create the appropriate tax code on the transaction or create a new account that you can use in that line on the invoice with a negative value to reduce the overall total amount of the invoice.
Please note that we always advise seeking assistance from your accountant regarding such queries.
Please feel free to create a new post again if you need help in the future, and we're always here to help.
Cheers,
Princess
