Withholding tax on bond and GDR income requires deduction from interest or dividends paid to non-residents.

Tax deduction at source applies to interest or dividend income on specified bonds or Global Depository Receipts paid to a non-resident. Any person responsible for making the payment must deduct tax at 10%. No monetary threshold applies. The framework retains the withholding mechanism applicable to such interest or dividend income, including the non-resident recipient requirement, deductor obligation, rate of deduction and absence of a threshold limit.

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