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Exemption from Withholding Tax

Tax exemptions, deductions allowed, reliefs and tax waivers are legal loopholes used by tax accountants to reduce the incidence of tax on their clients. Below are some exemptions available to the taxpayer created within the law to avail the taxpayer his tax paying rights and some of the merits and demerits of the withholding tax administration system. Advantages/Merits of Withholding Tax Disadvantages/Demerits/Problems of Withholding Tax