Ideas for the Mambu Banking Engine

Rounding of withholding tax (WHT) amounts

What?

The ability to set a parameter to round the withholding tax (WHT) amount calculated.

Why?

In countries such as Russia this is a regulatory requirement. At the moment, it can be worked around via Mambu's manual fees.

  • Sascha Dannroth
  • Oct 22 2019
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  • Przemysław Sroka commented
    23 Oct 05:50

    There should be an optional rounding strategy for withholding tax.

    Example:

    Interest is: 115.14 Euro

    The tax rate is: 13%

    The tax amount is:  14.97, rounded to 15.00

     

    Without such a mechanism, a manual procedure of tax calculation is required.