Declaration of Withheld SDC and GHS from Interest and Dividends through TAXISnet

January 19, 2022

Please be reminded that the deadline for the electronic submission of the declarations for SDC and GHS contributions withheld on interest and dividend payments, made during the period from 1 January 2019 until 31 December 2021, is due on  31st of January 2022.

For payments made from 1 January 2022 onwards, the declarations must be submitted by the end of the month following the month in which the withholding was made (i.e. the deadline is the same date as the due date of the payment of SDC and GHS contributions withheld).

Obligation to submit the declarations

The submission of the declarations is mandatory for withholdings of SDC (collection codes 602 and 603) and GHS contributions (collection codes 702 and 703) made from the year 2019 onwards (year of commencement of the GHS).

The relevant declarations, which should be submitted via Taxisnet, are the following:

– T.D. 602 – Declaration of withheld Special Contribution for Defence (SDC) from Interest, and

– T.D. 603 – Declaration of withheld Special Contribution for Defence (SDC) from Dividends.

Submission of the form and payment:

The tax forms are submitted electronically through TAXISnet. If the tax forms are submitted by a representative then authorization is needed following the relevant procedure for appointment of representative through TAXISnet.

With the final submission of the Declarations a debt is automatically recorded on the Tax Department’s systems, that will be shown as outstanding on the Tax Portal the next working day. Payment can be completed via internet banking using the payment reference code shown in the Tax Portal.

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