South Africa: Proposal to extend the implementation date for the tax documents renewal to 1 October 2020
In October 2019, the Taxation Laws Administration Act 2019 introduced a validity period of 5 years of the withholding tax documents, coming into force on 1 July 2020. Please refer to Announcement A20016 for further details.
Given the impact of COVID-19 measures, in particular the national lockdown, the National Treasury has proposed to extend the implementation period for three months to 1 October 2020.
If the Draft Disaster Management Tax Relief Administration Bill 2020 is approved, the new effective date for renewing the withholding tax documentation will be 1 October 2020.
We continue to monitor the South African market and will provide further information 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. |