Section RF 11B — Income Tax Act 2007: Dividends paid by companies in certain situations

RF 11B Dividends paid by companies in certain situations The rate of NRWT payable on a payment of non-resident passive income in the form of a dividend paid by a company to a non-resident is— (a) to the extent to which the payment is a fully-imputed dividend, 0% if— (i) the non-resident has a direct voting interest in the company of 10% or more: (ii) the non-resident does not have a direct voting interest in the company of 10% or more and, in the absence of this section, the post-treaty tax rate for the dividend would be less than 15% if no imputation credits were attached to the payment: (b) to the extent to which the payment is not a fully-imputed dividend, the post-treaty tax rate for the dividend that, in the absence of this section, would apply if no imputation credits were attached to the payment. Defined in this Act: company , direct voting interest , dividend , fully-imputed dividend imputation credits , non-resident , non-resident passive income , NRWT , pay , post-treaty tax rate Section RF 11B: replaced (with effect on 1 February 2010), on 2 November 2012, by section 152 of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).