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Call for comment: Draft IN on determination of taxable income from international transactions

22 March 2013   (0 Comments)
Posted by: Author: SARS Legal & Policy
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Source: SARS Legal & Policy

SARS issued a Draft Interpretation Note on the determination of the taxable income of certain persons from international transactions: Thin capitalisation for public comment which can be found here.

This Note provides taxpayers with guidance on the application of the arm’s length basis in the context of determining whether a taxpayer is thinly capitalised under section 31 and, if so, calculating taxable income without claiming a deduction for the expenditure incurred on the excessive portion of finance.

SAIT will be making a submission to SARS. Kindly provide your comments by email to taxtech@thesait.org.za by no later than 28 June 2013. 


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