Tax rate reduction for specified dividend categories reduces statutory withholding rate for certain recipients under amended provision. Amendment to section 112(1) substitutes the previously prescribed thirty percent rate with twenty percent in clause (b)(ii) and clause (d)(ii), effective ... Summary
Tax rate reduction for specified dividend categories reduces statutory withholding rate for certain recipients under amended provision.
Amendment to section 112(1) substitutes the previously prescribed thirty percent rate with twenty percent in clause (b)(ii) and clause (d)(ii), effective from the stated fiscal commencement, thereby changing the tax rate applicable to the income categories specified in those sub-clauses.
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