A tax retention is the amount of money that the payer must deduct from the total amount of a purchase invoice, according to the fiscal institution’s regulations.
With Belvo’s Tax Retentions resource, you can quickly and easily consult information regarding a user’s tax retentions over a given period or for a specific invoice. This is particularly useful when you want to aid your user in their tax returns as for each invoice you receive the:
- invoice amount
- amount that is exempt from taxation
- total amount that is taxed
- breakdown of all the taxes applied to the invoice