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Income Tax Act, 1962 (Act 58 of 1962)

Schedules

Tenth Schedule: Oil and Gas Activities

3. Withholding Taxes

 

1) The rate of dividends tax contemplated in section 64E that is paid by an oil and gas company on the amount of any dividend derived from oil and gas income must not exceed zero per cent of the amount of that dividend.

[Subsection 1 amended by section 156(b) of Act No. 31 of 2013]

 

2) Notwithstanding Part IVB of Chapter II, the rate of withholding tax on interest contemplated in that Part may not exceed zero per cent of the amount of any interest that is paid by an oil and gas company in respect of loans applied to fund expenditure contemplated in paragraph 5(2).

[Subparagraph (2) amended by section 156(c) of Act No. 31 of 2013]