Page 50 - P6 Slide Taxation - Lecture Day 6 - Dividend Tax
P. 50
Payment and recovery of
Dividends Tax (s 64K)
What will happen if the co/regulated intermediary fails to
pay it over?
O The co/regulated intermediary will be held liable for the tax
as if it was a tax due by itself.
O If the beneficial owner pays the DT, the co/regulated
intermediary will be relieved from the liability.
Are there penalties & interest on late payment? Who will
be liable?
O Interest @ prescribed rate is applicable to late payments.
O Administrative penalties applies at the late/no-submission
of returns
