04/07/2008 03:07. Johannesburg, Jul 03, 2008 (Business Day/All Africa Global Media via COMTEX) -- VLKAY | Quote | Chart | News | PowerRating -- A HIGH court bid by Volkswagen SA to get a refund from the South African Revenue Service (SARS) for Secondary Tax on Companies (STC) paid on dividends declared to its German parent has failed.

The court held that the double tax agreement between SA and Germany could only apply to a tax on dividends in the hands of the shareholder receiving the dividends, whereas STC was a tax on the company.

Volkswagen tried to get a refund on the difference between the 12,5% that was paid and 7,5% which it claimed was the maximum sum it ought to have paid.

Under the double tax agreement SA has with Germany, in the case of a shareholding of at least 25%, the maximum tax on... // Trading Markets

Total: 4 news articles
First News Article: Business Day, 03/07/2008 16:49