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Dividend withholding tax.
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33.— (1) The Principal Act is amended—
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(a) in section 172D(3)(b) by substituting “where the declaration made is a current declaration (within the meaning of paragraph 2A of that Schedule)” for “in relation to which declaration each of the certificates referred to in clause (i), the certificate referred to in clause (ii) or, as the case may be, the certificate referred to in clause (iii), of subparagraph (f) of that paragraph is a current certificate (within the meaning of paragraph 2 of that Schedule)”,
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(b) in section 172F(3)(a) by substituting the following for subparagraph (ii):
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“(ii) a declaration made by that person in accordance with section 172D(3)—
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(I) in relation to which the certificate referred to in paragraph 8(f) of Schedule 2A is a current certificate (within the meaning of paragraph 2 of that Schedule), or
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(II) which is a current declaration (within the meaning of paragraph 2A of Schedule 2A),”,
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(c) in section 172I—
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(i) in subsection (1) by inserting “, or by means of electronic communications,” after “in writing”,
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(ii) in subsection (1A)—
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(I) by inserting “or the recipient of a relevant distribution” after “to an intermediary”,
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(II) in paragraph (a) by inserting “delivered to an intermediary” after “the statement”, and
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(III) in paragraph (b) by inserting “or the recipient of the relevant distribution” after “the intermediary”,
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(d) in section 172J(4) by deleting “in writing”,
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(e) in paragraph 2 of Schedule 2A by deleting “or 9(f)”,
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(f) in Schedule 2A by inserting the following after paragraph 2:
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“Currency of certain declarations
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2A. A declaration referred to in paragraph 9 shall be treated as a current declaration for the period from the date of the making of the declaration to the 31st day of December in the fifth year following the year in which the declaration was made.”,
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(g) in paragraph 9 of Schedule 2A by substituting the following for subparagraph (e):
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“(e) contains—
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(i) the name and address of that company,
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(ii) the name of the territory in which the company is resident for the purposes of tax,
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(iii) in the case of a company within the meaning of section 172D(3)(b)(ii), the name of the relevant territory or names of the relevant territories, as the case may be, in which the person or persons who control (within the meaning of section 172D(4)(a)), whether directly or indirectly, the company is or are resident for the purposes of tax by virtue of the law of that territory or the laws of those territories, and
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(iv) in the case of a company within the meaning of section 172D(3)(b)(iii), the name and address of a recognised stock exchange on which the principal class of the shares of the company or
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(I) where the company is a 75 per cent subsidiary (within the meaning of section 172D(5)) of another company, of that other company, or
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(II) where the company is wholly owned (within the meaning of section 172D(6)) by 2 or more companies, of each of those companies,
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is substantially and regularly traded,”,
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and
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(h) by deleting paragraph 9(f) of Schedule 2A.
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(2) This section applies to—
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(a) relevant distributions, and
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(b) declarations referred to in section 172D(3)(b),
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made on or after the date of the passing of this Act.
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