Last updated on MAY 31, 2016
Applies to:JD Edwards EnterpriseOne Contract and Service Billing - Version 9.0 and later
Information in this document applies to any platform.
It is requested to have functionality for Contract and Service Billing to be able to set up an amount for withholding taxes.
Retainage at this time, does not allow for withholding only tax. It must be combined with an amount + tax.
Client has a contract with the customer to have a rental/net lease & is due to pay a 5% withholding tax in the country of the customer.
This 5% can be recovered by client under certain conditions later.
Client's customer will pay on client's behalf the 5% in the WHT country & client will receive 95% in the bank.
At the time of billing, the requirement is to withhold 5% tax and display the same in an invoice to customer.
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