Exact Globe

Product Updates 414, 413, and 412: Payer types and grouping option for withholding tax enhanced (Thai legislation)

Four payer types are now available for selection in the Accounts Payable maintenance screen. Once selected, the payer type will be reflected in the generated withholding tax certificates and reports. Previously, the Type 1 – withhold at source payer type was the default value and could not be changed.

Furthermore, tax reports for a supplier using two tax percentages (for example, 3% for service and 5% for rental) can now be grouped in multiple sections or a single section.

This enhancement is applicable to the withholding tax certificates and reports in the English and Thai languages, and also for the Trial and Final prints.

Selection of payer type for withholding tax certificates and reports

The payer type can be selected via Finance à Accounts payable à Maintain. In the overview, select one of the creditors, and click Open. The following screen will be displayed:

The payer types available for selection are explained in the following table, whereas the calculations for the examples are provided under Calculations that follows:

Calculations:

¹ Pay for service * Withholding tax % / (100 – Withholding tax %)

² (Pay for service + Withholding tax amount) * Withholding tax %

Note: The withholding tax calculations for the payer types will be handled manually by users during the entry application. Exact Globe Next only retrieves the selected payer type from the Accounts Payable maintenance screen, and generates the information into the withholding tax certificates and reports. 

To display the payer type in the Accounts Payable maintenance overview screen, click Columns and select Accounts.Payer in the Insert column screen. The selected payer type is displayed as follows:

In the withholding tax certificate, the selected payer type is displayed under the Payer section and in the withholding tax report, this is displayed in the Conditions column. See the following samples:

Note: You are required to change the payer type for existing creditors if the creditors are not of the Type 1 – withhold at source payer type. This has to be done manually.

Grouping option in the withholding tax reports

In the Reports screen, Group by has been added with the options VAT code / Percentage and VAT percentage. You can select either option to group the withholding tax reports accordingly. By default, VAT code / Percentage is selected.

The options are explained in the following:

• VAT code / Percentage: When selected, the withholding tax reports are grouped by Supplier, per Payment, Payment date, Tax code, and Tax percentage in multiple sections. (as existing)
• VAT percentage: When selected, the withholding tax reports are grouped by Supplier, per Payment, Payment date, and Tax percentage in a single section.

The following sample displays how the tax reports are grouped when VAT code / Percentage is selected:

The following sample displays how the tax reports are grouped when VAT Percentage is selected:

For more information, see Product Update 402: Withholding tax feature for Thailand enhanced (Thai legislation) and Product Update 405: Changes to withholding tax (Thai legislation).