Withholding Tax

2»

Comments

  • EmmaPEmmaP Administrator Posts: 639 admin

    Hi @Fanlike! Thanks for taking the time to provide your feedback here! I'm sorry we are unable to fully support what your business needs at the moment. Right now, I have no further news or developments to provide. Hopefully this is something we can visit soon. The number of people posting here is not going unnoticed and we appreciate your voice on this!

  • TirabuzonesTirabuzones Member Posts: 1

    Have created a user account just to add my voice to all the others who are absolutely disbelieving that a negative tax option cannot be simply added.

    From Japan (10.21 withholding tax).

  • spiral_architectspiral_architect Member Posts: 1

    Echoing all of the above comments. This feature is an absolute must and should be prioritized.

    This situation actually applies to Ontario, Canada as well. I am a contractor who invoices my client for $X, and when I get paid by my payment processor the amount received is $X - 0.13%. This is a withholding amount for a WSIB premium (Provincial worker's compensation insurance).

    It's a pain in the behind on how to document this, because I want to funnel the difference to my expense account. Particularly to Insurance – General Liability.

    Any updates on when this feature will be live?

  • DedricDedric Member Posts: 35

    # Echoing all of the above comments. This feature is an absolute must and should be prioritized.

    I can only agree with @spiral_architect ! Well said

  • AndrewMcCAndrewMcC Member Posts: 2

    @Tirabuzones said:
    Have created a user account just to add my voice to all the others who are absolutely disbelieving that a negative tax option cannot be simply added.

    I have done the same, and to post a link to this page displaying a table which provides Statutory WHT rates on dividend, interest, and royalty payments made by companies in WWTS territories to residents and non-residents: http://taxsummaries.pwc.com/ID/Withholding-tax-(WHT)-rates

    Hard thought should be given to the ethics of marketing this app as being a global solution working for users all over the world when this single feature demonstrates a very parochial vision of "global". A bit like the baseball "World Series".

  • toniloutonilou Member Posts: 5

    Hi, in the case of Spain (and possibly many other countries) it would enough if we could create a Tax with a negative %. So I'd create a tax called "IRPF-15" with "-15%" as value. This will give the proper invoice amount (gross amount + all taxes, be it positive or negative). But today it is not possible to create taxes with negative %.

    A checkmark on the tax editor called "This is negative tax", or maybe just allow us to enter negative % values, will do it.

    edited March 30, 2020
  • DedricDedric Member Posts: 35

    @tonilou yes, this is a real problem.
    This thread is from almost 2 years ago, and despite being raised as a "priority feature" by the Community (ie "we need it so bad we can't even understand why it's not possible already"),
    it seems that the dev team doesn't really care about needs from Customers [especially when outside US or Canada]…

    It's been said many times, but just in case, here it is again: THIS IS A VERY IMPORTANT AND WELL NEEDED FEATURE FOR BUSINESSES IN MANY COUNTRIES!

    Thank you for you attention.

  • SuperAticSuperAtic Member Posts: 1

    @EmmaP @Charlotte @TylerK @JordanD @KelseyRodricks @Katie_Silkina @BarsinA Listen to the Community -->> Forward to Dev Team +1

  • DedricDedric Member Posts: 35

    here is my +1

  • StratosStratos Member Posts: 1

    I've been trying to use Wave since I started my business as a freelancer, many years ago. I like your work, but always fall back to using Google Docs/Spreadsheet, as I stumble on this ancient problem of the withholding tax, that hasn't been addressed by your team yet.

    Please, listen to the community. I understand you have priorities, but this shouldn't be a hard fix, if you just added negative tax support.

  • ctradectrade Member Posts: 1

    We're a Puerto Rican-based company and need this too. Many Americans are moving here to start businesses and it'd be nice to use Wave.

  • Momo233Momo233 Member Posts: 1

    I am adding to this petition. Accounting can be a make or break foundation of any business of any size. Waveapp is an especially beneficial resource to small-medium size enterprises but in countries such as Ghana where the ability/non-ability to add withholding (negative) taxes on my invoices and vendor bills really precludes me from benefiting from wave app.
    If there is anything the WAVEAPP development team can do to add this feature, you will literally be saving some businesses out there. PLEASE!!!

  • ManfredYossarianManfredYossarian Member Posts: 1

    Another +1, this time from Thailand.
    Solution seems soooo simple, just allow Negative Tax Rates!

    Guess I will have to look elsewhere then

  • DedricDedric Member Posts: 35

    @EmmaP @Charlotte @Alexia @TylerK @JordanD @KelseyRodricks @Barsin

    Would someone at Wave like to give the Community an update ? (last comment from you was almost a year ago!)

    thanks

    edited September 14, 2020
  • BarsinBarsin Administrator Posts: 1,811 admin

    Hey @Dedric

    I do appreciate you reaching out about an update on this. Presently we don't have the ability to add a withholding tax in our program. I understand this is not the news you were hoping to hear. Wave's team has not mentioned this any updates around this however if it is something we feature we will update this thread with more info. Thanks again.

  • DedricDedric Member Posts: 35

    ok, thanks for the update.
    it's a disappointing answer (in terms of hoping this feature to ever be available), but at least it's a transparent answer.
    Cheers

Sign In or Register to comment.