64LA.   Refund of tax in respect of dividends in specie

Notwithstanding the provisions of Chapter 13 of the Tax Administration Act, if-

(a)     dividends tax is paid by a company in respect of a dividend that consists of a distribution of an asset in specie as a result of the company being unable to obtain the declaration and written undertaking contemplated in section 64FA(1)(a) or (2) by the date contemplated in that section; and

(b)     both the declaration and the written undertaking are submitted to the company within three years after the date of payment of the dividend in respect of which they are made,

[Paragraph (b) substituted by section 6 of Act 13 of 2017 and by section 4 of Act 21 of 2021]

so much of the amount of dividends tax paid as would not have been payable had that declaration and written undertaking been submitted by the date contemplated in section 64FA(1)(a) or (2) is refundable to the company by SARS if claimed within three years of the date of payment of the tax.

[Section 64LA inserted by section 6 of Act 44 of 2014 effective on 20 January 2015]