WHT rate in case of Joint Ownership of Premium Prize Bond(filer+non-filer)

Question

It would be appreciated much for a clarification required on WHT rate applicable in case of Joint Ownership of any of transaction (for example it can be Premium Prize Bonds) where Owner-A is Filer and the Owner-B is Non-Filer?

Answer 1

In case of joint ownership, the withholding tax (WHT) rate is applied in proportion to each owner’s share in the income or transaction.
If Owner-A is a filer, WHT will be deducted at the filer rate on their share.
If Owner-B is a non-filer, WHT will be deducted at the non-filer rate on their share.
The withholding agent must verify each owner’s filer status through the Active Taxpayers List (ATL).
Hence, separate rates apply individually, not collectively, for joint owners.

Comments

Thank you so very much for the requested clarifiction, whatif the joint ownership is on equal basis and is of Class-B (either or survivor type), what WHT treatment will be in that case?