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Withholding Income Tax Regime (WHT Rates Card) Guideline for the Taxpayers, Tax Collectors & Withholding Agents as per Finance Supplementary (Second Amendment) Act, 2019 updated up to March 09, 2019,
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What is withholding tax regime?
Withholding tax regime is a system where a certain percentage of tax is deducted at the source of income before it is paid to the recipient.
Who is required to file withholding tax regime?
Individuals or entities who make payments to others and are mandated by the tax regulations to withhold tax from those payments.
How to fill out withholding tax regime?
To fill out withholding tax regime, you need to accurately report the amount of income subject to withholding, calculate the appropriate tax rate, and submit the necessary forms to the tax authorities.
What is the purpose of withholding tax regime?
The purpose of withholding tax regime is to ensure that taxes are collected in a timely manner and to prevent tax evasion.
What information must be reported on withholding tax regime?
The information required to be reported on withholding tax regime includes the name and address of the payee, the amount of income subject to withholding, the tax rate applied, and the total tax withheld.
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