The amending protocol between South Africa and Cyprus regarding income and capital tax treaty entered into force on 18 September, 2015. The protocol was signed on 1 April 2015.
Under amending the protocol, withholding tax on dividend payments is 5% if the beneficial owner is a company which holds at least 10% of the capital of the company paying the dividends; 10% in all other cases. The protocol also updates the Exchange of Information clause.
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