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Income Tax Act, 1962 (Act 58 of 1962)

Chapter III: General Provisions

Part V: Representative Taxpayers

98. Company regarded as agent for absent shareholder (Repealed)



[Repealed by the Tax Administration Act, 2011 (Act No. 28 of 2011)].


Where a shareholder or a member of a company is absent from the Republic, such company shall for the purposes of this Act be deemed to be the agent for such shareholder or member, and shall as regards such shareholder or member and in respect of any income received by or accruing to him or in his favour as a shareholder or member, have and exercise all the powers, duties and responsibilities of an agent for a taxpayer absent from the Republic.