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Partial Distribution withholding tax Expand / Collapse
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Posted 29/10/2007 5:29:14 PM
Regular Member

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Last Login: 13/08/2008 4:56:57 PM
Posts: 20, Visits: 86
Hi,

Several of my Trusts (offshore) deduct withholding tax at each distribution. These Trusts still send a final Tax Statement but when entering a Partial distribution prior to the receipt of the Tax statement there is no facility to reduce the income into the bank account by the amount of the withholding Tax.

Can there be a Tax Withheld field so that the Bank account remains correct. If a journal entry is made at the time of initial entry to CR Bank and DR Withholding Tax then you must remember not to re - enter the Withholding Tax when you complete the past distributions.  

Just a minor one but it may be a little complicated to achieve.

Regards,

Colin

Post #3604
Posted 30/10/2007 11:32:01 PM


MySF Administrator

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Group: Administrators
Last Login: 19/06/2015 3:22:19 AM
Posts: 479, Visits: 663
Hi,

We are reviewing the dividend / distribution receipt and reinvestment processes to make them more user friendly and faster. We will try to include the functionality you have suggested in the next round of changes.

Regards,

MySF
Post #3614
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