Browsing: Withholding tax

Business/Economy/Banking & Finance

FG exempts farmers, manufacturers, SMEs from paying withholding tax

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“The key changes introduced are to address the identified challenges and specifically include the exemption of small businesses from withholding tax compliance; reduced rates for businesses with low margins; exemptions for manufacturers and producers such as farmers; measures to curb evasion and minimise tax avoidance and the ease of obtaining credit and utilisation of tax deducted at source.”