UK – South Africa Tax agreement
A new protocol to the Double Taxation Convention between the UK and South Africa was recently signed in Pretoria by the British High Commissioner and South Africa’s Minister of Finance.
The protocol responds to South African changes to the taxation of dividends paid to non-residents. The South African Government is abolishing its secondary tax on companies and introducing a withholding tax.
The new protocol also updates the Convention to include exchange of information clauses to help prevent fraud and introduces a new provision regarding assistance in the collection of taxes.
The protocol will take force once both countries have finalised their respective legislative procedures.