On Oct. 18, SRI CSE required use of standardized dividend warrants.
SRI CSE required all listed companies to adopt the standardized format for certificate of tax deduction, for more efficient, transparent, digitalized dividend payment process.
Overview of Requirement
Listed entities have adopted numerous calculation table formats for the purpose of issuing a certificate of tax deduction for dividends in relation to dividend payments.
SRI CSE deemed standardizing the tax calculation table based on SRI Tax-recommended format, would bring uniformity in the way dividend warrants are issued.
Thus, all listed companies are required to adopt and implement the standardized dividend warrant format set out in annexure II with effect from Jan. 1, 2025.
Effectiveness
The standardized format shall be adopted from Jan. 1, 2025.
