South Africa issues tax guidance on royalty, interest withholding tax

Interpretation Note 115 relates to withholding tax on interest and Interpretation Note 116 relates to withholding tax on royalties.

The South African Revenue Service has published two interpretation notes clarifying the application of tax provisions concerning withholding tax on interest and royalty income.

Interpretation Note 115 deals with the interpretation and application of sections 50A to 50H relating to withholding tax on interest.

Interpretation Note 116 provides guidance on the interpretation and application of sections 49A to 49H which relate to withholding tax on royalties.