Category: Paragraph 3 (Tenth Schedule) – Withholding taxes

Paragraph 3

 

  1. Heading of paragraph 3 substituted by section 156 of Act 31 of 2013 effective on 12 December 2013.

 

  1. Subparagraph (1) substituted by section 156 of Act 31 of 2013 effective on 1 April 2012.

 

  1. Paragraph 3 amended by section 72 of Act 8 of 2007 and section 85 of Act 17 of 2009 and substituted by section 138 of Act 22 of 2012 effective on 1 April 2012.

Paragraph 3 (Tenth Schedule) – Withholding taxes

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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.

 

(2)     Notwithstanding subparagraph (1), the rate of dividends tax may not exceed 0 per cent of the amount of any dividend, as defined in section 64D, that is paid by any oil and gas company out of amounts attributable to its oil and gas income if all of its oil and gas rights are solely derived (directly or indirectly) by virtue of an OP26 right as defined in Schedule II of the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002), previously held by that company.