Tax on savings certificates no longer final, who benefits and who loses

In the budget for the current fiscal year, The withholding tax deducted from profits earned on savings certificates has been excluded from the list of final taxes.This means that when purchasing savings certificates, a 10 per cent tax is deducted from the profit earned. If an investor does not possess a Taxpayer Identification Number (TIN), a 15 per cent tax is deducted from the profit.Until now…