“This provision about withdrawal tax payment and rates has been removed from the law”
This section of the law, called ‘Payment and rate of withdrawal tax’, used to be part of the Income Tax Act 2007. However, it is no longer in effect. The government removed this section on 2 June 2016. They did this through another law called the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016. This means that the rules about payment and rate of withdrawal tax that were once here no longer apply.