🧾 Tax Terms
WHT
(Withholding Tax)
What is WHT?
Withholding Tax (WHT) is an advance payment of income tax deducted at source on certain types of payments. The payer deducts the tax and remits it to FIRS on behalf of the recipient.
Rates vary: 5% on contracts, 10% on professional fees, 10% on rent, 10% on dividends.
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