Income Tax Act (Cap. 123), article 62

62. (1) Every company shall, on payment of untaxed dividend to a recipient, deduct therefrom tax at a rate of fifteen per c ent. (2) Every amount deducted under s ub-article (1) shall be a debt due from such company to the Commissioner payable not later tha n the fourteenth day following the end of the month in which such dividend was paid and shall be recoverable as such: Provided that the provisions of this article shall not apply i n respect of untaxed dividend payments to persons who are exempt from tax. Presumption of deduction. Added by: XVII. 1994.26.