Based on the tax laws of your country, it may be necessary for you to report and pay taxes on the income you earn through Nectaro. As tax regulations vary by jurisdiction, it is advisable to consult the relevant tax authority or a tax advisor in your country of tax residence for specific information.
When individuals invest in Notes, we are legally obligated to withhold a certain amount of tax from their income, based on their country of tax residence. This withholding tax is automatically deducted from your interest income as soon as it is credited to your Nectaro account. You may have the opportunity to reduce the applicable tax rate by providing your tax details or a tax resident certificate. When you file taxes in your country of tax residence, you can typically offset the withheld tax amount against your total tax liability, ensuring that you are not double taxed.
Please note that no withholding tax is deducted for legal entities.