n Without Prejudice - Refinements to the withholding mechanism for dividend tax : tax
|Article Title||Refinements to the withholding mechanism for dividend tax : tax|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Jul 2009|
|Pages||16 - 17|
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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