Withholding tax rate reduction: statutory amendment substitutes the prior percentage with a lower rate, changing the applicable withholding obligation. Amendment substitutes the words 'two per cent.' in section 115S of the Income tax Act with 'one and one-half per cent.', thereby reducing the statutory rate specified in that provision; the substitution takes effect from the commencement date stated in the amending enactment.
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Withholding tax rate reduction: statutory amendment substitutes the prior percentage with a lower rate, changing the applicable withholding obligation.
Amendment substitutes the words "two per cent." in section 115S of the Income tax Act with "one and one-half per cent.", thereby reducing the statutory rate specified in that provision; the substitution takes effect from the commencement date stated in the amending enactment.
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