Improved Filings for Taxes
NetSuite continues to increase its global compliance footprint for international tax filings with NetSuite Version 2014 Release 2. For the Philippines, the Withholding Tax SuiteApp will now enable the Monthly Alphalist of Payees (MAP) and Summary Alphalist of Withholding Taxes (SAWT) reports to be available in a DAT file format.
Accountants can download a copy of these reports to comply with the electronic filing requirements of Revenue Regulation No. 1-2014, using the format prescribed by the Philippine Bureau of Internal Revenue. Also, the Tax Audit Files SuiteApp now supports Standard Audit File for Tax (SAF-T) filings for France. As a result, accountants can automatically generate these reports with a few simple clicks, eliminate the need to create time-consuming and error-prone reports manually, and comply with tax agencies quickly and confidently.