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SDC and GHS contributions on Deemed Dividend Distribution (DDD) for tax year 2018 – Deadline extension

Fidescorp Limited > Tax > SDC and GHS contributions on Deemed Dividend Distribution (DDD) for tax year 2018 – Deadline extension
Deemed Dividend Distribution (DDD) for tax year 2018 - Deadline extension

Please be informed that the deadline for the payment of SDC and GHS contributions on deemed dividends for the tax year 2018 has been extended from 31 January 2021 to 30 April 2021.

Which companies are subject to SDC and GHS contributions on DDD?

Any company which has not distributed at least 70% of its post-tax profits, adjusted for DDD purposes until 31/12/2020, will be subject to the DDD provisions and a liability for SDC and GHS contributions will be due.

What about SDC and GHS contributions on actual dividends?No extension is given on the settlement of SDC and GHS contributions on actual dividend distributions.

SDC and GHS contributions on actual dividends must be paid by the end of the month following the month in which the dividend was declared.

How is payment of the contributions made?

Timely payments of SDC and GHS contributions can be made via JCC smart or online banking while late payments can only be made via online banking.

How can Fidescorp help?

Our team is at your disposal to assist with the submission of the relevant declaration, calculations and administration of the payments.