Withholding Tax Reports

The following Withholding Tax reports are available for the Israel Localization SuiteApp:

Israeli Withholding Tax Detail Report: Mandatory Report 102 by transaction, monthly.
IL WHT Summary Report: Mandatory Report 102– grouped by vendor. Select a subsidiary and periods.
Israeli Withholding Tax File Generator: Mandatory Report 856 report. Annual report.
Israeli Withholding Tax Vendor Letter: Mandatory Report 857. Issue to each vendor to inform them how much the total of vendor bills was paid in a year and how much WHT was deducted. Can be printed or e-mailed. Language is based on the vendor set up.

Guidelines for Creating Withholding Tax Reports

Below are the guidelines of how to submit an annual Withholding Tax report, known as form 856.

To set up vendor for withholding tax:

Go to Lists > Relationships > Vendors
Click View on a vendor record and ensure that each vendor has a Tax Registration number and a Taxpayer ID.
The Withholding Tax details must be defined for each supplier on the supplier definition page, on the Israeli Tax Certificates subtab.

For Annual Reporting for Withholding Tax, make sure that all vendor information required for withholding tax is populated using the Israeli Vendors Tax Information Report. The report will display all relevant vendor details: vendor name, address, tax clerk number, withholding tax type & group, bookkeeping dates, type of business, tax registration number & taxpayer ID.

To access the Israeli vendor tax information report:

Note:

The report will also present the incorrect VAT numbers. Incorrect numbers will be flagged with a ‘No’ in the Proper column.

Go to Reports > Israeli Reports > Israeli Vendors Tax Information. The report can be sorted by any of the columns.

To create the Israeli Withholding Tax Summary Report - 102 Monthly Summary Report:

If the vendor list is short, the report is displayed on the screen that can also be exported to Excel. When there is a large number of vendors, the report is e-mailed to the user who produced the report.

If you want to display a greater level of detail in your report, generate the Israeli Withholding Tax Detail Report.

Go to Reports > Israeli Reports > Israeli Withholding Tax Summary Report.
From the Subsidiary list, select the applicable subsidiary.
From the From Period and To Period, select the applicable period.
Click Generate.

To create the Israeli Withholding Tax Detail Report:

Go to Reports > Israeli Reports > Israeli Withholding Tax Summary Report.
From the Subsidiary list, select the applicable subsidiary.
From the From Period and To Period, select the applicable period.
Click Generate.

To generate the Israeli Withholding Tax Report (File 856):

Note:

If your use of NetSuite was not started at the beginning of the fiscal year, the data to support the report will need to be generated from the previous ERP system. You should select the option from the list to notify the Tax office to expect a further report.

Go to Reports > Israeli Reports > Israeli Withholding Tax Summary Report.
Select the relevant tax year, company and whether there is a supplementary report.
Choose to encode the file. The file downloads to the "Downloads" directory on your PC.

General Notices