South Africa: Proposal of amendment of bill on validity of withholding tax declaration documents


On 30 October 2019, National Treasury and South African Revenue Service have published a proposed Tax Administration Laws Amendment Bill, which provides that tax declaration documents will have a limited validity period of five years from the date of signature, after which new withholding tax declaration documents will have to be submitted.

If approved, the law is expected to be effective on 1 July 2020.

Further information

National Treasury expects the legislation to be signed in early January.

We continue to monitor the South African market for new developments and will provide more information as it becomes available.

For further information, customers may contact the Clearstream Banking Tax Help Desk or Clearstream Banking Client Services or their Relationship Officer.

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.