Tax Facts
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:
 |
Provide the interest payer with your IRD number,
and |
|
Elect the tax rate at which this is to be deducted
by them |
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
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