Withholding tax management

We are excited to announce a new functionality that empowers you to assign a withholding tax percentage to your rights-holders. This feature streamlines the process and ensures accurate withholding tax calculations for each rights-holder's statement.

Like VAT, the withholding tax is automatically calculated when the rights-holder's balance is closed. The calculated withholding tax amount is then prominently displayed on the beneficiary's statements, providing transparency and clarity.

With this update, managing withholding tax obligations becomes more convenient and efficient. By assigning the withholding tax percentage at the rights-holder's level, you can easily customize and apply the appropriate tax rates specific to each contact and company. This flexibility allows for accurate and tailored withholding tax calculations, reducing the risk of errors and ensuring compliance with regulatory requirements.

Experience the benefits of this improved feature and simplify your tax management processes with our direct assignment of withholding tax percentages to rights-holders. Stay informed, compliant, and in control of your financial operations.