- - Withholding Tax (WHT) is a method used to collect Income Tax in advance
- - WHT is deducted at varying rates ranging from 5% to 10% depending on the transaction
- - The due date for filing WHT returns is 21st day of every succeeding month
- - Penalty for late filing of returns is N25, 000 for the first month it occurs and N5, 000 for each subsequent month the failure continues
TAX PAYMENT HAS GONE ELECTRONIC!!!