Collection at source on overseas tour packages requires higher withholding for purchases exceeding threshold, and transitional rules apply. Amendments to section 206C(1G) alter collection at source obligations by substituting threshold language and omitting the education and medical treatment ... Summary
Collection at source on overseas tour packages requires higher withholding for purchases exceeding threshold, and transitional rules apply.
Amendments to section 206C(1G) alter collection at source obligations by substituting threshold language and omitting the education and medical treatment exception with effect from 1 July 2023; by further amending proviso language and restoring a higher threshold term from 1 October 2023; by inserting a proviso requiring the seller of an overseas tour programme package to collect a specified percentage of amounts received in excess of an annual threshold from 1 October 2023; and by prescribing transitional collection rules for the period 1 July 2023 to 30 September 2023.
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