South Africa proposes 15% withholding tax on cross-border service fees, delays introduction of withholding tax on interest

March 2013

Overview

The South African Minister of Finance announced in his 2013 budget speech a proposal to introduce a 15% withholding tax on cross-border service fees effective March 1, 2014. The Minister also announced a proposal to delay the effective date of a new withholding tax on interest from July 1, 2013, to March 1, 2014. These developments should interest US multinationals that earn fees and interest from South Africa.

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