SARS recently issued Binding Private Ruling (BPR) 121. This ruling deals with the question as to whether a dividend to be paid toshareholders will be subject to secondary tax on companies or dividends tax.
The rulingwas requested on the interpretation and application of the provisions of –
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.