“debtor” means a person that incurs an amount of interest and-

(a)     is a resident; or

(b)     in the case of a person that is not a resident, owes a debt that is effectively connected with a permanent establishment of that person in the Republic;

[Definition of “debtor” substituted by section 37(1)(d) of Act 43 of 2014 and by section 19(1)(e) of Act 20 of 2021 effective on 31 March, 2023 and applicable in respect of years of assessment ending on or after that date (effective date in section 19(2) of Act 20 of 2021 as substituted by section 10 of Act 19 of 2022)]