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News & Press: SARS News & Tax Administration

IN65 (issue 2)-Trading Stock - Inclusion in income

05 February 2014   (0 Comments)
Posted by: Author: SARS Legal and Policy
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Author: SARS Legal and Policy 

SARS released Interpretation Note 65 (issue 2) which provides guidance on the application and interpretation of section 22(8) which deems an amount to be included in income when trading stock is applied, distributed or disposed of in specified circumstances, otherwise than by sale at market value in the ordinary course of trade.

Click here to download IN65 (issue 2).


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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