Cap. 123 Art. 62Tax on dividend from untaxed account.

(1) Every company shall, on payment of untaxed dividend to a recipient, deduct therefrom tax at a rate of fifteen per cent.

(2) Every amount deducted under sub-article (1) shall be a debt due from such company to the Commissioner payable not later than 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 in respect of untaxed dividend payments to persons who are exempt from tax.