Note on withholding tax act 2021 and director's liability

The Withholding Tax Act 2021 introduces a (25%) conditional withholding tax (also referred to as “WHT” , a “WHT”or “the WHT”) on interest and royalty payments to affiliated entities in designated low-tax and non-cooperative jurisdictions (hereafter: tainted jurisdictions, see 2.2) and in abusive situations, for example where payments are artificially diverted to entities in tainted jurisdictions via companies in normal tax jurisdictions. Click here to read more.