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Income Tax Act, 1962 (Act 58 of 1962)

Special Tax Measures relating to 2010 FIFA World Cup South Africa

Part III: Tax treatment of certain other entities

7A. Secondary tax on companies treatment of dividends

 

 

There shall be exempt from the secondary tax on companies so much of any dividend declared in the course or in anticipation of the liquidation, deregistration or final termination of the corporate existence of a company which was incorporated in the Republic with the sole purpose of carrying out the obligations of its shareholders as—

a) a FIFA Designated Service Provider;
b) a Hospitality Service Provider; or
c) an affiliated entity in relation to such FIFA Designated Service Provider or Hospitality Service Provider as contemplated in paragraph 1(2),

as is shown by the company to be from any receipt or accrual that was excluded from ‘gross income’ as defined in the Income Tax Act, 1962, by paragraph 7.