Tax – Resident Witholding Tax (RWT)

What is Resident Withholding Tax?

  • A tax on interest earned from investments and bank accounts.
  • May also be deducted from dividends paid to shareholders.

Who deducts this tax?

  • The bank or investment organization deducts this tax when they credit interest to your account.

What are your responsibilities?

  • Provide your IRD number to the organization that has paid interest to your account.
  • Advise them of a *tax rate which is to be deducted by them.

*RWT Tax Rate: This rate will vary for individuals and different types of business entities.

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