Page 51 - Chapters 17 & 18 - Dividends & Dividend Tax
P. 51
Payment And Recovery Of
Dividends Tax (s 64K)
What will happen if the co/regulated intermediary fails to
pay it over?
• The co/regulated intermediary will be held liable for the tax
as if it was a tax due by itself.
• 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?
• Interest @ prescribed rate is applicable to late payments.
• Administrative penalties applies at the late/no-submission
of returns
