n Without Prejudice - Refinements to the withholding mechanism for dividend tax : tax

Volume 9, Issue 6
  • ISSN : 1681-178X



The provisions relating to the new dividends tax were enacted in 2008. Currently, secondary tax on companies (STC) is levied on all dividend distributions by companies at a rate of 10% on the net amount by which the dividend declared exceeds the dividends received in a dividend cycle. STC is a tax on the company and is not a withholding tax levied on the shareholder.

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