ER Supplier Thresholds For Withholding Tax
(Doc ID 2272723.1)
Last updated on AUGUST 04, 2022
Applies to:Oracle Fusion Tax Cloud Service - Version 184.108.40.206.0 and later
Information in this document applies to any platform.
For withholding tax, the amount received from one party in a year may exceed a threshold, meaning everything over that amount is subject to withholding tax. As such, when the same supplier is used in transactions, it is necessary for the system to track how much has been applied to that supplier.
Threshold is 0-180,000 at 0%, 180,000+ at 10%
I applied the calendar to the tax and created two invoices with the same supplier, both for 150,000. The first didn't breach the threshold (correct). I accounted and posted it. The second invoice again did not breach the threshold. 120,000 of it should have, then being subject to withholding tax at 10%.
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