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Income Tax Act, 1962 (Act No. 58 of 1962)

Chapter II : The Taxes

Part VIII : Dividends Tax

64I. Withholding of dividends tax by insurers


A dividend, to the extent that the dividend does not consist of a distribution of an asset in specie, is paid to an insurer as defined in section 29A, the insurer must be deemed to be a regulated intermediary and the dividend must, to the extent that the dividend is allocated to a fund contemplated in section 29A(4)(b), be deemed to be paid to a natural person that is a resident by the regulated intermediary on the date that the dividend is paid to the insurer.