Professional services withholding tax (PSWT) has been with us since 1987.[1] A cynic might say that it was introduced to accelerate the receipt of tax revenue by the Exchequer – self-employed professionals make a payment of income tax as late as 11 months into the year, whereas the deduction of PSWT means that at least some of their tax liability is withheld at source and in the coffers almost immediately. Regardless of why or how it arrived, we are, as they say, where we are.
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