South Africa: Interest withholding tax update

Further to our Taxflash T12045 dated 21 November 2012, the implementation of the 15% withholding tax on interest, foreseen to be effective on 1 July 2013, has been postponed to 1 March 2014.

The new effective date is based on the Budget Speech delivered by the Finance Minister of South Africa on 27 February 2013.

The effective date of 1 March 2014 is expected to be published in the Gazette three months before the actual effective date.

We will provide further information or official confirmation as soon as it becomes available.

This Taxflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the customer’s own risk and Clearstream Banking S.A., its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Taxflash does not constitute legal or tax advice.