Webtax (WHT) on dividends, interest and royalty earned from a treaty country. When Nigeria signed its old treaties, the domestic WHT rate on most passive income earned from Nigeria was 15%. The DTAs agreed at the time reduced the rate by 2.5% to 12.5% for treaty partners. Many years later, the domestic WHT rate was reduced to 10%, rendering the … WebNigerian company paying the dividend, and 10% in all other cases. The WHT rate for interest and royalty payments under the post 1999 DTA’s is 7.5% except for the Philippines which applies a WHT rate of 10% on interest payments. In a circular published by the Federal Inland Revenue Service (“FIRS”) titled “Information Circular on the
WITHHOLDING TAX RATES ON DIVIDEND, INTEREST AND …
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WITHHOLDING TAX RATE TABLE - NIGERIA - Nairametrics
WebWHT rate % Interest paid to a senior citizen – on amounts exceeding Rs.1.5 Mn2 5 Interest or discount paid to a person (other than to a senior citizen) 5 ... All other cases of investment returns 14 WHT on payments to resident individuals and non-resident persons* WHT rate % Service fees paid to resident individuals, covered under section 85 ... WebDec 16, 2024 · However, the Federal Inland Revenue Service (FIRS) dismissed the request and held that the sales were contracts with rights and liabilities enforceable by law at a WHT rate of 5%. TPWA later filed an appeal with the TAT to dispute FIRS’ position and seek a WHT refund. The issues The Tax Appeal Tribunal settled four (4) issues between … Webgrace period, obtained a 100% WHT exemption. The exemptions have now been modified as follows: a) At least 7 years tenor and 2 years grace period: 70% WHT exemption b) 5 … list of scriptures on anger