
R 385
Income Tax Act, 1962 (Act No. 58 of 1962)Chapter II : The TaxesPart IVB : Withholding tax on interest50A. Definitions |
(1) In this Part—
"bank"
means any—
(a) | any bank or branch as defined in section 1 of the Banks Act respectively; |
[Paragraph (a) substituted by section 64 of the Taxation Laws Amendment Act, 2014 (Act No. 43 of 2014) - effective 1 March 2015]
(b) | mutual bank as defined in section 1 of the Mutual Banks Act, 1993 (Act No. 124 of 1993); or |
(c) | co-operative bank as defined in section 1 of the Co-operative Banks Act, 2007 (Act No. 40 of 2007); |
"Development Bank of Southern Africa"
means the Development Bank of Southern Africa Limited, incorporated in terms of the Development Bank of Southern Africa Act, 1997 (Act No. 13 of 1997);
"foreign person"
means any person that is not a resident;
"Industrial Development Corporation"
means the Industrial Development Corporation of South Africa Limited, registered in terms of the Industrial Development Corporation Act, 1940 (Act No. 22 of 1940);
"interest"
means interest as contemplated in paragraph (a) or (b) of the definition of "interest" in section 24J(1);
[Definition inserted by section 70(1) of the Taxation Laws Amendment Act, 2015 (Act No. 25 of 2015)]
"listed debt"
means any debt that is listed on a recognised exchange as defined in paragraph 1 of the Eighth Schedule.
[Definition inserted by section 98(1) of the Taxation Laws Amendment Act, 2013 (Act No. 31 of 2013) - effective 1 March 2015 (substituted by section 125 of the Taxation Laws Amendment Act, 2014 (Act No. 43 of 2014)]
[Section 50A inserted by section 98(1) of the Taxation Laws Amendment Act, 2013 (Act No. 31 of 2013) - effective 1 March 2015 (substituted by section 125 of the Taxation Laws Amendment Act, 2014 (Act No. 43 of 2014)]