South Africa-Cameroon DTA In Force
by Lorys Charalambous, Tax-News.com, Cyprus
06 September 2017
The South African Revenue Service (SARS) announced on September 1 that the double tax agreement (DTA) signed with Cameroon in February 2015 had entered into force.
The agreement – the first of its kind between the two countries – allocates taxing rights and caps withholding tax rates for certain types of income.
It establishes a maximum withholding tax rate of 10 percent on dividend payments, where the beneficial owner holds a minimum of 25 percent of the capital of the company making the distribution. A 15 percent rate otherwise applies.
For interest, royalty, and technical service fee income, withholding tax is capped at 10 percent.
The terms of the agreement will generally be effective from January 2018.
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