Page 35 Withholding tax (WHT) – Penalties Compliance requirements and penalties The penalties for non-compliance with WHT deduction and remittance are
{"Image DocumentName": "Compliance requirements and penalties", "Image ImageDescription": "25/03/2017. Compliance requirements and penalties. Withholding tax (WHT) \u2013 Penalties. The penalties for non-compliance with WHT deduction and remittance are as follows: - In respect of WHT payable to the FIRS: For companies under CITA, 10% of the amount due as penalty and interest at commercial rate. For companies under the PPTA, 200% of the amount due as penalty and interest at the commercial rate. However, by virtue of the FIRS (Establishment) Act, the penalty is 10% plus interest at the prevailing Central Bank of Nigeria minimum re-discount rate. - In respect of WHT payable to SIRS: The higher of N5,000 or 10% of the amount due and interest at the commercial rate.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}