Tax on Retirement Funds Act, 1996 (Act No. 38 of 1996)

2. Levy of tax and rate thereof

Purchase cart Previous page Return to chapter overview Next page

 

There shall be levied and paid for the benefit of the National Revenue Fund a tax, to be known as the tax on retirement funds, calculated at the rate of 9 per cent of the taxable amount, as determined, as the case may be, in the case of—

(a)an untaxed policyholder fund, in accordance with the provisions of section 4; or
(b)a retirement fund, in accordance with the provisions of section 5.