The South African Revenue Service (SARS) has published Interpretation Note 115 (Issue 2), which provides guidance on the interpretation and application of sections 50A to 50H of the Income Tax Act of 1962 relating to withholding tax on interest, as well as relevant provisions of the Companies Act, the Financial Markets Act, and the Tax Administration Act, as well as the application of tax treaties. The interpretation note provides a detailed overview of the relevant laws, the levy of withholding tax, exemptions from withholding tax, liabilities of payers and recipients, rules on payments and refunds, etc., as well as several...