If you invoice clients for professional services, rent, or contract work, some of what you're owed may never reach you directly — it's withheld and remitted on your behalf instead.
Yes. Under the Deduction of Tax at Source (Withholding) Regulations 2024, a client should withhold 5% on professional/consultancy fees or technical services, 10% on rent, and 2% on general contracts or goods supply. This withholding tax (WHT) isn't extra tax — it's a credit against what you owe when you file your annual return.
No — it's a credit against what you owe when you file your annual return, not an additional tax.
The paying party withholds the tax before paying you and remits it on your behalf — enter either the invoice amount before withholding (gross) or the amount you want to receive after withholding (net) and TaxLane solves for the other.
Work out WHT on a real invoice — gross-to-net or net-to-gross — with TaxLane's WHT calculator.
No — it's a credit against what you owe when you file your annual return, not an additional tax.
The paying party withholds the tax before paying you and remits it on your behalf — enter either the invoice amount before withholding (gross) or the amount you want to receive after withholding (net) and TaxLane solves for the other.
Yes. Under the Deduction of Tax at Source (Withholding) Regulations 2024, a client should withhold 5% on professional/consultancy fees or technical services, 10% on rent, and 2% on general contracts or goods supply. This withholding tax (WHT) isn't extra tax — it's a credit against what you owe when you file your annual return.
No — for guidance only, not tax advice.