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BCR 042 - Preferred securities issued by a company registered in a foreign country

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

This ruling published on 07 February 2014, deals with the applicability of the definition of "listed share” in section 1(1) to preferred securities issued to South African investors by a company registered in a foreign country and with issues concerning distributions to the class members. 

Please click here to download Binding Class Ruling 042.


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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