What is WTI?
It is a tax charged on interest paid from 1 March 2015 by any person to or for the benefit of a foreign person, which would include individuals, companies, trusts, etc., from a source within South Africa. The foreign person is responsible for the tax, but it must be withheld by the person making the interest payment to or for the benefit of the foreign person. Interest paid is taxed at a final withholding tax rate of 15%.
By Desiree Goodwin, Issued by Meredith Harington 26 Jun 2015 11:12