Withholding TAX (WHT) is an advance payment of income tax deductible at source on specified transactions.
It can be
applied as a tax credit against income tax liability in most instances.
The relevant provisions are in the CITA, PITA, PPTA,
and WHT Regulations.
The rate of WHT on Agency Banking reduced to 5% when paid to a corporate recipient resident in a treaty country.
The rate of WHT on divdend reduced to 7.5% when paid to a corporate recipient resident in a treaty country. recipient resident in a treaty country. In the case of individuals, 10% is applied on dividend.
The rate of WHT on Agency Banking reduced to 5% when paid to a corporate recipient resident in a treaty country.