Withholding Tax Simplified
Channel: Nexia Agbo Abel & Co.
Date: 25/03/2021

Withholding tax (WHT) is an advance payment of income tax which may be used to offset or reduce income tax liability or claimed as a refund. It is an advance payment to be applied as tax credit to settle the income tax liability of a taxpayer for the relevant year of assessment. This means that withholding tax is not a tax itself but an advance payment used to offset future tax liabilities.


How does WHT work?


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