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Withholding Tax In Nigeria: A Practical Guide by delomos(m): 10:43am On Oct 24, 2022 |
Withholding tax is not a type or form of income tax like personal income tax or company income tax. Rather, it is an advance payment of income tax on specific transactions which is aimed at reducing the tax liabilities of a taxpayer. This prepaid tax was introduced to reduce tax evasion among taxpayers, and it is charged from 5%-10% depending on the type of transaction or income. Want to know more about withholding tax in Nigeria? Tap on the link below https://authoritywit.com/withholding-tax-rates-nigeria/ |
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