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News & Press: Corporate Tax

Binding Private Ruling 147: Consideration received for the surrender of a right to acquire shares

15 May 2013   (0 Comments)
Posted by: Author: SARS Legal & Policy
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Source: SARS Legal & Policy

SARS issued Binding Private Ruling BPR 147 on 14 May 2013.

This ruling deals with the income tax consequences for a taxpayer in respect of consideration to be received for the surrender of a right to acquire shares.

Please click here to download BPR 147.


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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