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News & Press: SARS operational & eFiling questions

When will the withholding tax on interest come into effect?

23 February 2015   (0 Comments)
Posted by: Author: SAIT Technical
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Author: SAIT Technical

Q: I have received conflicting information regarding the withholding tax interest. I was under the impression that this was due to come into effect on January 2015; however I have heard various commentaries that it is only effective from March 2015. 

When is the effective date of the withholding tax on interest and will SARS be providing a new tax type on e-Filing to facilitate the submission and payments?

A: You are correct that the date was moved from 1 January 2015 to 1 March 2015 by section 125 of the Taxation Laws Amendment Act 2014.

Disclaimer: Nothing in this query and answer should be construed as constituting tax advice or a tax opinion. An expert should be consulted for advice based on the facts and circumstances of each transaction/case. Even though great care has been taken to ensure the accuracy of the answer, SAIT do not accept any responsibility for consequences of decisions taken based on this query and answer. It remains your own responsibility to consult the relevant primary resources when taking a decision.


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