Construction
Withholding Tax Remittance to ISTD
Paying accumulated withholding taxes deducted from subcontractors to the ISTD.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Withholding Tax Payable (ISTD) | Liability (-) | 15,000.00 | - |
| Cash in Bank | Asset (-) | - | 15,000.00 |
💡 Accountant's Note
Withholding taxes must be remitted to the ISTD within the statutory deadline (usually the 15th of the following month). Failure to remit attracts penalties.
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