Extended Withholding Tax 

Use

In Venezuela, you are required to collect tax on a variety of expenditures. The standard business practice is to withhold tax when you make a payment.

For Venezuela, you use the Extended Withholding Tax functions.

Activities

Customizing

For generic information about customizing Extended Withholding Tax, see Settings for Extended Withholding Tax: Overview.

Country Version Venezuela comes with sample Customizing settings, including:

·        Withholding tax types

·        Withholding tax codes

·        Recipient types

Master Data

Enter the required information in the vendor master data (control data and withholding tax data).

Periodic Processing

To prepare tax returns, you use the Generic Withholding Tax Reporting program. Country Version Venezuela comes with sample forms that you can adjust to meet your own requirements.