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.
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.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.