The main objective of this new system is to minimize tax evasion and support a new tax collection system.
The Withholding Tax is only applicable on transactions whereby the country noted on the invoice differs from the destination country. This may occur if there is an intermediary involved in the transaction and the goods pass to that intermediary prior to final delivery.
Under this new system, tax is only applicable on "definitive exports for consumption"
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About Nair & Co.
Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax and compliance services for the set up and management of your international operations. Our model of a single-point-
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