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BCR 037: Distribution of shares in an unbundling transaction

24 January 2013   (0 Comments)
Posted by: SAIT Technical
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By SARS Legal & Policy

SARS issued Binding Class Ruling (BCR) 037 on 23 January 2013.

This ruling deals with the question as to whether the transfer of equity shares held by a company to the shareholders of that company, in an unbundling transaction, will be exempt from dividends tax and securities transfer tax.

This ruling is valid for a period of 5 years from 19 November 2012, provided the transaction is concluded within a period of 3 years from 19 November 2012.

Please click here to download BCR 037.


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.


The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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