GEN - General - Consultation process on proposed changes to Listings
JSE
GEN
GEN - General - Consultation process on proposed changes to Listings
Requirements on announcements regarding information on tax on dividends
Consultation process on proposed changes to Listings Requirements on
announcements regarding information on tax on dividends
The pending introduction of dividends tax with effect from 1 April 2012
will result in "regulated intermediaries" (as defined in Part VIII of the
Income Tax Act ("the Act")) requiring more detailed and accurate
information regarding dividends declared by companies listed (including
dual listings) on the Johannesburg Stock Exchange ("the JSE"). With the
move away from STC, where a tax was levied on the actual company, to a
shareholder`s tax, where the tax is levied on the beneficial owner of the
share, it is imperative to ensure that there is completeness and
availability of information relating to dividend declarations by companies
listed on the JSE.
The JSE is therefore, considering an amendment to the Listings Requirements
to make provision for the values in respect of the tax on the dividend that
need to be included in the SENS announcement.
The proposed Listings Requirements are available on the JSE`s website at
http://www.jse.co.za/How-To-List/Main-Board/Listing-
requirements/Announcements-regarding-listing-requirements and interested
parties are invited to submit their comments by no later than 20 February
2012. Comments can be submitted electronically to thandekam@jse.co.za.
20 January 2012
Date: 20/01/2012 16:32:01 Produced by the JSE SENS Department.
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