South Africa: Interest withholding tax update

Further to our Announcement A12041, dated 24 February 2012, the South African Parliament has proposed, in its 2012 Taxation Laws Amendment Bill, to postpone the implementation of the 15% withholding tax on interest to 1 July 2013.

The tax was previously foreseen to be effective on 1 January 2013.

This revised effective date is expected to be published in the Gazette three months before the actual effective date of 1 July 2013.

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.