The South African Revenue Service (SARS) has issued guidance on withholding tax for royalties, providing clarification on the completion of the Withholding Tax on Royalties return (WTR01), how to make payment on eFiling and apply for a refund using the Rev16 form.
Any reference to a section in the guide, unless otherwise specified, refers to a section of the Income Tax Act No. 58 of 1962 (the Act). Any reference to a paragraph in this guide, unless otherwise specified, refers to the Section 49A to 49H to the Act and must be read in conjunction with Interpretation Note 116 on Withholding Tax on Royalties.
The guide also details of the process, complete with screenshots illustrating form completion and payment procedures.
The guide is effective from 23 August 2024.
