Credit Withholding tax and debit either:
- An appropriate expense account, such as Taxes paid, if the tax is an obligation of the business, or.
- An equity account, such as Owner's equity or Capital accounts, depending on your form of organization, if the tax is an obligation of the owner or partners.
- Is advertising subject to withholding tax? - In the case where the NR has... (Read More)
- What is digital tax in Malaysia? - Malaysia's digital service tax rules - at... (Read More)
- Is software subject to withholding tax in Malaysia? - Payments for services are subject to withholding... (Read More)
- What is subject to withholding tax in Malaysia? - The gross amount of interest, royalty and... (Read More)
- What are the three types of withholding taxes? - Three key types of withholding tax are... (Read More)
- What are the examples of withholding tax? - Withholding tax applies to income earned through... (Read More)
- Will I owe taxes if I claim 0? - If you claim 0, you should expect... (Read More)
- What makes you exempt from withholding? - To be exempt from withholding, both of... (Read More)
- Is withholding tax an expense? - (The taxes withheld from employees are not... (Read More)
- Is payroll considered an expense? - Payroll expense is the amount of salaries... (Read More)