BTC Japan-specific Withholding Payment
What is withholding tax for Japan? Withholding tax refers to deducting income tax from the payment of individual suppliers. The company pays the amount deducted the withholding tax to the individual payee first, and pays the tax that the company has deposited to the tax office afterwards. The manuscript fee/lecture fee for outside individuals and the remuneration for lawyers/judicial scrivener etc. are applicable to the withholding tax range. One of the features of our solution is that payments to individual suppliers and individual business owners are automated, and accounting staff are released from complicated duplication works. Also, journals of deposits to be paid to the tax authorities are automatically created. By using this solution together with JBA format solution, it is possible to improve the efficiency of payment to individual suppliers furtherly.
Screenshots
Overview
Brief Description
Blue Tiger Consulting's Withholding Payment application is a Japan-specific module that enable withholding income tax to be assessed automatically against payments of certain taxable income for personal vendors.
Key Benefits
Japan’s tax filing system is based as a rule on self-assessed income tax payment where individuals (tax payers) calculate their annual income and tax amount, and file tax returns by themselves. In addition, a tax withholding system where companies (income payers) collect income tax on the date of payment and pay the tax on behalf of individuals (income earners), is also introduced for specific incomes. Withholding income tax is assessed against payments of certain taxable income, whether paid to an individual. Income subject to withholding income tax is determined in accordance with the type of income and the classification of the recipient of that income. BTC's Withholding Payment application makes it possible to automatically pay the taxation office the amount of tax withheld at source.
Customer Quote
N/A
Key Operation
The process is linked to NetSuite standard purchase order. It is possible to select the appropriate multiple purchase orders to improve operational efficiency. Manual journal entry is not required.
Features
Calculating Automatically
Blue Tiger Consulting's Withholding Payment application make it easy to calculate the withholding income tax automatically.
Paying at Source
Blue Tiger Consulting's Withholding Payment application make it possible that withholding income tax is assessed automatically at source(income payers).
No Need for Manual Journey Entry
Blue Tiger Consulting's Withholding Payment application make can entry a manual journal automatically, so manual journal entry is not required.
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BTC Japan-specific Withholding Payment
