Resident Withholding Tax (RWT)
Resident Withholding Tax (RWT) is a tax deducted on interest earned from investments and bank accounts. The investment organisation or bank deducts this tax when they credit interest to you.
Companies may also deduct withholding tax from dividends paid to shareholders.
If you receive interest as income you need to:
The RWT tax rate used will vary for individuals and different types of business entity.
For more information on RWT, the tax rate and how this tax applies to interest and dividends refer to the IRD website.
Spooner, Hood & Redpath Ltd
162 Wicksteed Street, PO Box 765,
Ph 06-349 0015, Fax 06-345 3943
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