Withholding tax rates for bonds and GDRs revised; higher rate applies to long term gains on transfers after the amendment date. Amendment revises section 196C to replace the single flat rate with a tiered regime for bonds and Global Depository Receipts referred to in section 115AC: ... Summary
Withholding tax rates for bonds and GDRs revised; higher rate applies to long term gains on transfers after the amendment date.
Amendment revises section 196C to replace the single flat rate with a tiered regime for bonds and Global Depository Receipts referred to in section 115AC: a ten percent rate for interest and dividends; ten percent for long term capital gains on transfers before 23 July 2024; and a higher rate for long term capital gains on transfers on or after 23 July 2024, deemed effective from 23 July 2024.
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