Resident Withholding Tax exemption register
Inland Revenue has introduced a new online RWT exemption register that lists the IRD numbers of all customers who are exempt from having RWT deducted from the interest and dividends they receive.
Currently, IRD issues successful applicants with a certificate of exemption from RWT. This process will remain in place until 31 March 2020.
From 1 April 2020, payers of investment income (e.g. payers of interest and dividends) will access the register to confirm which of their customers have RWT exempt status. The IRD will no longer ask for or accept physical certificates of exemption.
- is automatically populated by Inland Revenue
- identifies customers only by their IRD number
- can be searched by exemption status, IRD number and when the information was last updated
- is updated overnight every business day (Monday to Friday) – so it provides near real-time information
Payers can use the register now to verify if a customer has an exemption, or to check the exemption status (e.g. cancelled, revoked or end-dated (expired)).
If a customer has an exemption under an Act that is not administered by Inland Revenue, they may need to apply to us to be included on the register.
If you are a charity registered with Charities Services you do not need to apply for RWT exempt status. IRD will automatically put you on the register.