The short answer
- Withholding is charged by the company's country, not yours.
- The range across the 39 countries below is 0% to 35%.
- Highest: Switzerland 35%. Australia, Belgium, Finland, New Zealand and Sweden 30%.
- Zero: the UK, Singapore, Hong Kong, Brazil, Qatar and the UAE.
- These are statutory rates at source. Treaty relief, reclaims and your own domestic tax all sit on top.
What this table is
These are the standard rates Portfolio On Fire applies when it converts a gross dividend into the net figure you actually receive. They are published here because a number an app uses to calculate your income should be inspectable, not buried.
The third column shows the practical consequence: what a 4% gross yield is worth after withholding. It is the same 4% in every row.
| Country | Withheld at source | A 4% gross yield becomes | If you are resident there |
|---|---|---|---|
| Switzerland | 35% | 2.60% | — |
| Australia | 30% | 2.80% | 0% |
| Belgium | 30% | 2.80% | — |
| Finland | 30% | 2.80% | — |
| New Zealand | 30% | 2.80% | — |
| Sweden | 30% | 2.80% | — |
| Portugal | 28% | 2.88% | — |
| Austria | 27.5% | 2.90% | — |
| Denmark | 27% | 2.92% | — |
| Germany | 26.375% | 2.95% | — |
| Italy | 26% | 2.96% | — |
| France | 25% | 3.00% | 30% |
| Ireland | 25% | 3.00% | — |
| Israel | 25% | 3.00% | — |
| Norway | 25% | 3.00% | — |
| South Korea | 22% | 3.12% | — |
| Taiwan | 21% | 3.16% | — |
| India | 20% | 3.20% | — |
| South Africa | 20% | 3.20% | — |
| Poland | 19% | 3.24% | — |
| Spain | 19% | 3.24% | — |
| Japan | 15.315% | 3.39% | 20.315% |
| Canada | 15% | 3.40% | 0% |
| Czechia | 15% | 3.40% | — |
| Hungary | 15% | 3.40% | — |
| Luxembourg | 15% | 3.40% | — |
| Netherlands | 15% | 3.40% | — |
| United States | 15% | 3.40% | 0% |
| China | 10% | 3.60% | — |
| Mexico | 10% | 3.60% | — |
| Turkey | 10% | 3.60% | — |
| Greece | 5% | 3.80% | — |
| Saudi Arabia | 5% | 3.80% | — |
| Brazil | 0% | 4.00% | — |
| Hong Kong | 0% | 4.00% | — |
| Qatar | 0% | 4.00% | — |
| Singapore | 0% | 4.00% | — |
| United Arab Emirates | 0% | 4.00% | — |
| United Kingdom | 0% | 4.00% | — |
These are standard statutory rates withheld at source. They are not your final tax position, and three things commonly change the number:
- Tax treaties. Most countries have double-taxation treaties that reduce the rate for non-residents, often to 15%. Claiming it sometimes happens automatically at your broker and sometimes requires paperwork.
- Reclaims. Where more was withheld than the treaty allows, the excess is usually reclaimable — a process that varies from straightforward to genuinely not worth the effort.
- Your own country's tax. Withholding is only the first layer. Your domestic tax on dividends, or on wealth, applies separately, and a foreign tax credit may offset part of what was withheld.
Rates also change. This table reflects the app's data as of August 2026.
The domestic-resident column
The last column matters if you hold shares in your own country, because several countries treat residents differently from foreign investors:
- United States, Canada, Australia: 0% at source for residents. Domestic dividends are handled through the ordinary tax return rather than withheld up front — and in Australia's case, through franking credits.
- Japan: 20.315% for residents, higher than the 15.315% applied to non-residents.
- France: 30% for residents, the flat prélèvement forfaitaire unique, against 25% at source for non-residents.
Everywhere else in the table, the resident and non-resident rates are the same starting point.
Why this matters more than it looks
A 4% gross yield in Switzerland delivers 2.60%. The same 4% from a UK company delivers 4.00%. That is a 54% difference in actual income from two holdings that look identical on a screener.
Compounded over twenty years of reinvestment, the gap is not a rounding error. And it is invisible if your tracker — like most — reports gross yield only.
This is not an argument for avoiding high-withholding countries. Treaty relief, reclaims and your own tax position may erase most of the gap, and a company's domicile is a poor reason to pick or reject it on its own. It is an argument for knowing what your income actually is, rather than what the headline yield implies.
How Portfolio On Fire uses these rates
The withholding country is derived from the exchange a holding trades on, and the corresponding rate is applied to produce a net yield. That net figure — never the gross one — is what appears in the header, the monthly payout bars, the annual income total and the FIRE projection. The full calculation is documented here.
Because exchange-to-domicile is a heuristic, and because your treaty position is something an app cannot know, the rate can be overridden per holding. If you know a specific position's real treatment — because you have seen what your broker actually withheld — set it and the forecast follows.
This page is a reference table with context, not tax advice. Rates change, treaty positions depend on your residence and your broker's arrangements, and nobody involved in this app is a tax adviser. Verify anything that affects a decision with someone qualified in your jurisdiction.