Withholding Tax on sales
Infinit
Member Posts: 2
Hi! I'm from Philipphines. Is there a way to set-up a negative Sales tax on Invoice? This is to reflect Income tax withheld by Customers.?
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I am facing the same problem in Pakistan. Wave is a brilliant software for small business. But currently does not allow withholding tax by customers/clients. Therefore following two provisions need to be added to make it more effective:
1) Provision for Withholding Income Tax deducted by customers/clients at the time of payment. Since the rates vary for different businesses, the rate column could be left blank
2) There could be one or two blank columns for customers to add special information, such as Customer Tax number which is a requirement in many countries.
Hey @Infinit! There isn't a way to set this up a negative tax in your Wave account. As a workaround, you could add negative line items to your invoice to show the amount being withheld (like you would for a discount) but I understand it is not the same thing. To see how to apply a negative line to your invoice click here.
Hi @HamidJalal! Thanks for reaching out with your feedback! Because Wave can be used worldwide, it can be difficult to ensure that it is compatible for everyone. We appreciate you taking the time to provide these two feature ideas to help improve Wave!
Thank you for suggesting those features.
Hi @EmmaP,
Thank you. That's exactly what I did.