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Withholding Tax On Nvdr's ?

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If you buy NVDR's, you are in principle entitled to most of the rights, that the holders of the underlying share are.

But what about tax on dividends ? I know that the Thai NVDR Co are cashing in the dividends and then paying you "compensation" worth the same amount. But their payment to you are classified as income, not dividend. Tax on most dividends is a flat 10%, but what is the rate on the "income" based on the same dividend ?

Anyone in the know ??

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