TAXATION OF OUTBOUND PAYMENTS
Some withholding tax rates for outbound payments would increase from 15% up to 20%
Outbound payments for fees, royalties, personal services, consultancy, technical services and technical assistance would be subject to a 20% withholding tax.
The withholding tax rate for payments related to licensing of software would be reduced from 26.4% to 20%.
Additionally, the withholding tax rate applicable to payments made to foreign parent companies for management or administration fees would be 33%.
Summary of proposed changes to rates applicable to outbound payments: