Help Center
Our products knowledge base for customers
Tax profiles
The DEFAULT tax profile is used in technical accounts such as Nominal.
In this section, it is recommended to add Instrument groups by country.
To add a dividend tax, click ADD DIVIDENDS, then select a group of instruments and enter the desired tax percentage.
When paying a dividend to a client, if tax withholding is already configured, two transactions will be generated:
- The first is the accrual of the full dividend amount to the client,
- The second is writing off the tax amount from the client’s account (to a nominal account).
Thus, the calculation is made at the time of dividend accrual, that is, on the date indicated in the information about the instrument as ex-dividend date. The amount of dividends to be accrued is displayed for the client in Account → Assets → Summary → Future cash flow.
When you see dividends credited to your account, then you credit them to the client by making nettings in Daily Operations.
Please note: If you consider necessary, you can spend dividends and taxes on the date of accrual to customers if you are not concerned about the cash gap.
By clicking DUPLICATE you can create a copy of your current setting.
To save your new or edited setting click SAVE in the bottom right of the screen, CANCEL to cancel the changes and SHOW USAGE to view on which accounts this setting is used.