Section 31, The Finance Act, 2013

Part IV of the First Schedule to the Income Tax Act, 2000 isrepealed and replaced by the following– 24 25 135 of Act No. 8 2000. 150 of Act 2000. 168 of Act No. 8 2000. of Part I of First Schedule to Act No. 8 of Part IV of the First Schedule to Act No. 8 of 2000. “Rates of tax to be withheld from payments made to residents Type of payment Rate Payments to contractors (section 117) 5% Dividends (section 118) 10% Interests (section 119) 15% Rents 10% Royalties (section 120) 25% Pensions and annuities (section 121(2) (a)) 15% Natural resource payments (122) 25% Real property(section 123) 10% Winnings of Le 500,000 and above from any lottery 10%”