oa De Rebus - The new Interest Withholding Tax : what attorneys need to know : tax law
|Article Title||The new Interest Withholding Tax : what attorneys need to know : tax law|
|© Publisher:||Law Society of South Africa|
|Publication Date||May 2015|
|Pages||48 - 49|
On 1 March 2015, a new Interest Withholding Tax (IWT) came into effect in South Africa. From that date, 15% of any interest paid to or for the benefit of a non-resident, from a South African source, must be withheld and the payer of the interest is required to pay the tax over to the South African Revenue Service (Sars).
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