The Inland Revenue Department (IRD) has clarified that no deadline has been set for submitting self-declarations to banks and financial institutions regarding exemptions from Withholding Tax (WHT) on interest income.
The statement follows false claims circulating that April 30, 2025, was the final date for such submissions. The IRD confirmed that declarations must be submitted before receiving interest payments on the relevant deposits, and no specific deadline has been imposed.
It also noted that a Taxpayer Identification Number (TIN) is not required when submitting the declaration, although certain details may be requested by the department.
The clarification was issued by the Commissioner General of Inland Revenue.(Newswire)
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