Acts Online
GT Shield

Income Tax Act, 1962 (Act 58 of 1962)

Chapter II: The Taxes

Part VIII : Dividends Tax

64K. Payment and recovery of tax

 

 

(1)        

(a) If, in terms of section 64EA(a), a beneficial owner is liable for any amount of dividends tax in respect of a dividend, that beneficial owner must pay that amount to the Commissioner by the last day of the month following the month during which that dividend is paid by the company that declared the dividend, unless the tax has been paid by any other person.
(b) If, in terms of section 64EA(b), a company is liable for any amount of dividends tax in respect of a dividend, that company must pay that amount to the Commissioner by the last day of the month following the month during which that dividend is paid by the company.
(c) If, in terms of this Part, a person is required to withhold any amount of dividends tax in respect of a dividend, that person must pay that amount, less any amount refundable in terms of section 64L or 64M, to the Commissioner by the last day of the month following the month during which that dividend is paid by that person as contemplated in section 64G or 64H.
(d) [Paragraph (1)(d) deleted by section 5(a) of the Tax Administration Laws Amendment Act, 2014 (Act No. 44 of 2014)]

 

(1A) If, in terms of this Part a person has—
(a) paid a dividend; or
(b) received a dividend contemplated in paragraph (a) of the definition of 'dividend' in section 64D, other than a dividend derived from a tax free investment contemplated in section 12T, that is exempt or partially exempt from dividends tax in terms of section 64F or 64FA,

[Paragraph (1A)(b) amended by section 3 of the Tax Administration Laws Amendment Act, 2016 (Act No. 16 of 2016)]

that person must submit a return in respect of that dividend to the Commissioner by the last day of the month following the month during which the dividend is paid or received.

[Subsection (1A) inserted by section 5(b) of the Tax Administration Laws Amendment Act, 2014 (Act No. 44 of 2014)]

 

(2)        [Subsection (2) deleted by Act No. 24 of 2011 of the Taxation Laws Amendment Act].

 

(3)        [Subsection (3) deleted by the Tax Administration Act, 2011 (Act No. 28 of 2011)].

 

(4)        Where a person –

(a) has, in terms of section 64G(3) or 64H(3), withheld dividends tax in accordance with a reduced rate in respect of the payment of any dividend, or
(b) that is a company which was, in terms of section 64FA(2), liable for dividends tax at a reduced rate in respect of the declaration and payment of any dividend,

that person must submit to the Commissioner any declaration—

(i) submitted to the person by or on behalf of a beneficial owner; and
(ii) relied upon by the person in determining the amount of dividends tax so withheld,

at the time and in the manner prescribed by the Commissioner.

 

(5)        [Deleted by the Tax Administration Act, 2011 (Act No. 28 of 2011)].

 

(6) If a person fails to pay any dividends tax within the required period, interest must be paid by that person on the balance of the tax outstanding at the prescribed rate reckoned from the end of that period.

 

(7)        [Deleted by the Tax Administration Act, 2011 (Act No. 28 of 2011)].

 

(8)        [Deleted by the Tax Administration Act, 2011 (Act No. 28 of 2011)].