This accounting tutorial covers the journal entry for creditable withholding tax, in particular looking at an example from the Philippines.
Tag: withholding tax
In today's accounting tutorial article, we will look at the journal entry for dealing with withholding tax when a dividend is paid and received. Ensuring that this direct tax is accounted for...
Withholding tax is used in many tax jurisdictions as an efficient and effective means of tax collection. Withholding tax is efficient in that tax authorities can collect tax as taxable events take...