TAXATION ADMINISTRATION REGULATIONS 1976 (REPEALED)
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Hide history noteThe amount to be withheld from a dividend to which section 12-210 of Schedule 1 to the Act applies is:
(a) if an address mentioned in paragraph 12-210(a), or a place mentioned paragraph 12-210(b), of Schedule 1 to the Act is in a tax sharing country and the relevant international tax sharing treaty applies to the dividend - an amount calculated at the rate provided for in the treaty; and
(b) if paragraph (a) does not apply, but that address or place is in a double tax country - an amount calculated at the rate provided for in the relevant double tax agreement; and
(c) if paragraphs (a) and (b) do not apply - an amount equal to 30% of the amount of the dividend.
40(2)
The amount to be withheld from a dividend to which section 12-215 of Schedule 1 to the Act applies is:
(a) if a foreign resident mentioned in paragraph 12-215(1)(b) of Schedule 1 to the Act is a resident of a tax sharing country and the relevant international tax sharing treaty applies to the dividend - an amount calculated at the rate provided for in the treaty; and
(b) if paragraph (a) does not apply, but that foreign resident is a resident of a double tax country - an amount calculated at the rate provided for in the relevant double tax agreement; and
(c) if paragraphs (a) and (b) do not apply - an amount equal to 30% of the amount of the dividend.
40(3)
However, paragraphs (1)(b) and (2)(b) do not apply in relation to a dividend that is:
(a) paid to a resident of the United States of America; and
(b) included in a class of dividends that is exempt from tax under the law of that country.
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