How will the payer and the payee know that the bank has made a deduction and remitted the tax payment and withholding tax information to the Revenue Department?

The payer and the payee can verify the withholding tax information on the Revenue Department’s website after 5 working days from the date the payer makes the payment. In addition, information can be downloaded by logging in to the e-filling system with a Username and Password. (This service will be available after you register with the Revenue Department.)

Is the payer required to issue and keep a withholding tax certificate?

Payers and payees are no longer required to issue or keep a withholding tax certificate. Withholding tax information will be kept at the Revenue Department’s website for 3 years.

What are the benefits of the e-Withholding Tax system?

The Benefits of e-Withholding Tax for the Payer
 

• An easier process as you can submit withholding tax and supporting information when you make transactions.
• No longer need to issue or keep a withholding tax certificate.
• No longer need to submit withholding tax and information to the Revenue Department manually.
• Less paper documents to keep.
• Additional withholding tax can be paid via the Bank’s channels.

 
The Benefits of e-Withholding Tax for the Payee
 

• No longer need to keep or request the withholding tax certificate from payers after receiving a payment.
• The e-withholding tax information can be verified and related documents can be downloaded from the Revenue Department’s website.
• The payee will receive more due to withholding tax privileges from the Revenue Department if payers use the e-Withholding Tax service.

If tax payers and payees have registered with the Revenue Department’s e-Filing system, do they have to register again to be able to verify information about the withholding tax that has been submitted by the Bank?

No, the payer and the payee can verify the withholding tax information on the Revenue Department’s website via the e-Filing system using their current Username and Password. If the taxpayers and payees have not registered with the e-filing system before, they can apply at the Revenue Department’s website by following the instruction on the website without any charge.