Dividend Withholding Tax by Country

Figures current at 27 September 2026. Source: TradeAnswers.

South African dividends
RecipientRateNote
South African individual20%Withheld at source, no further tax due
Tax-free savings account0%Exempt inside the wrapper
Retirement fund0%Exempt
South African company0%Exempt between resident companies
REIT distributionTaxed as incomeNot subject to DWT for residents
Treaty rates on foreign dividends paid to a South African resident
Source countryStatutory rateTreaty rate with South Africa
United States30%15% with a valid W-8BEN
United Kingdom0%0%
Germany26.375%15%
Netherlands15%5% or 10%, depending on holding
Australia30%15%
China10%5%
The South African rate over time
FromRateNote
22 February 201720%The current rate
1 April 201215%Dividends tax replaced secondary tax on companies
Before April 201210% STCLevied on the company, not the shareholder
What reaches you from a R10,000 gross dividend
SourceWithheldNet to you
South African companyR2,000R8,000
South African company, inside a TFSAR0R10,000
United States, with W-8BENR1,500R8,500
United States, without itR3,000R7,000
United KingdomR0R10,000 before SA tax
The South African rate and the regime before it
FromMechanismRateWho paid it
22 February 2017Dividends tax20%The shareholder, withheld at source
1 April 2012Dividends tax15%The shareholder, withheld at source
1 October 2007Secondary tax on companies10%The company, on net dividends
Before October 2007Secondary tax on companies12.5%The company

Data maintained by TradeAnswers · updated as the figures change