Page 61 - Companies & Dividend Tax
P. 61
DIVIDENDS
Normal tax consequences
• The distribution of an asset is a disposal for the
purpose of the Eighth Schedule. Paragraph 75 of
the Eighth Schedule states that where a company
makes a distribution of an asset in specie to a
person holding a share, that company must be
treated as having disposed of that asset to the
holder of a share/s for proceeds equal to market
value.
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