Thank you for you for availing the Philippine Tax Localization for Microsoft Dynamics 365 Business Central.
Once the Philippine Localization Extension is installed in the database, the Withholding Tax assisted setup guide will help you in completing the setup.
Follow the following steps:
- On the Role Center, choose Setup & Extensions > Assisted Setup.
2. Choose Setup Withholding Tax.
3. The Withholding Tax Setup Window appears. Click Next.
4. Fill in the required fields, then click Next.
Enable Withholding Tax
Enabled – select this to enable withholding tax
Manual Sales Calculation
Manual – select to enable manual calculation of withholding tax
5. Click Finish.
WHT Posting Set-up
Once done with the assisted setup, go to the WHT Posting Setup. Combinations of the WHT Business Posting Groups and WHT Product Posting Groups are listed in this view. G/L Accounts where WHT is posted for possible combinations are set-up here; as well as the effective tax rate.
Withholding Tax Business Posting Group
Shows the withholding tax business group
Withholding Tax Product Posting Group
Shows the withholding tax product group
Withholding Tax %
Defines the tax percentage used to calculate the withholding tax
Realized WHT Type
Shows the realized WHT type
Shows the WHT Revenue Type. This is based on the combination of the WHT Business and Product Posting Groups.
Prepaid Withholding Tax Account
Defines the G/L Account where the withholding tax account for sales transactions is recorded.
Fill out only for Posting Groups related to Customers.
Bal. Prepaid Account Type
Bal. Prepaid Account No.
Reference no. of the Bal. Prepaid Account Type
Payable Withholding Tax Account
Defines the G/L Account where the withholding tax account for purchases transactions is recorded.
Fill out only for Posting Groups related to Vendors.
BIR Form No.
Autopopulated based on the Revenue Type Set-up