A withholding tax of 10% is deducted from the dividend paid by a Nigerian company to a non-resident company. However, the rate is 7.5% for a non-resident company located in a country that has entered into a DTT with Nigeria.
What is the current withholding tax rate in Ghana?
Corporate – Withholding taxes
| Income | WHT rate (%) | Final tax |
|---|---|---|
| Supply of goods exceeding GHS 2,000 | 3 | No |
| Supply of works exceeding GHS 2,000 | 5 | No |
| Supply of services exceeding GHS 2,000 (payments to persons other than individuals) | 7.5 | No |
| Payment to individuals for provision of services | 7.5 | No |
What is the rate for withholding tax?
It’s main purpose is to capture as much tax payers that may have evaded tax into the tax net. Withholding tax rates are usually 10% or 5% depending on the type of transaction and collecting authority for the tax (which can be a Federal Inland Revenue or the State Inland Revenue).
What is the current withholding tax rate in India?
The current rate for withholding tax in India for making payments to non-residents are: Interest – 20%. Dividends paid by domestic companies – Nil. Royalties – 10%. Technical services – 10%. Individuals – 30% of the income.
How is the 3 withholding tax rate calculated?
3Withholding tax is based on the prevailing corporate tax rate for the year when the services were provided, even if payment to the non-resident is made in a different year. For example, if the service was provided in Dec 2016 but payment was made in 2017, the prevailing corporate tax is that for…
What is the withholding tax rate for an IRA?
For payments made to non-resident individuals, tax is to be withheld at 20% (from 1 Jan 2016, the rate will be increased to 22%) on the gross payment. 4 The reduced withholding tax rate of 10% applies to distributions made during the period from 18 Feb 2005 to 31 Mar 2020 [Section 43(3B) of the Income Tax Act].
What are the withholding tax rates for real estate?
The applicable withholding tax rate depends on the nature of payment. Interest, commission, fee or other payment in connection with any loan or indebtedness Payment for the use of or the right to use scientific, technical, industrial or commercial knowledge or information Proceeds from sale of any real property by a non-resident property trader
