Income Tax Act, 1962 (Act No. 58 of 1962)SchedulesTenth Schedule : Oil and Gas Activities3. Withholding taxes |
[Heading of paragraph 3 of the Tenth Schedule substituted by section 156(1)(a) of the Taxation Laws Amendment Act, 2013 (Act No. 31 of 2013), GG 37158, dated 12 December 2013]
| (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. |
[Paragraph 3(1) of the Tenth Schedule substituted by section 156(1)(b) of the Taxation Laws Amendment Act, 2013 (Act No. 31 of 2013) - effective 1 April 2012]
| (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). |
[Paragraph 3(2) of the Tenth Schedule substituted by section 156(1)(c) of the Taxation Laws Amendment Act, 2013 (Act No. 31 of 2013) - effective 1 January 2015]