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News & Press: SARS News & Tax Administration

BPR 162 - Sale of an oil and gas right

03 March 2014   (0 Comments)
Posted by: Author: SARS Legal and Policy
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Author: SARS Legal and Policy

SARS issued Binding Private Ruling 162.

This ruling published on 03 March 2014 deals with the consequences on the sale of an oil and gas right and the timing of when value-added tax (VAT) will be payable in respect of the consideration accruing on the disposal of the exploration right (ER).

Please click here to download BPR 162.


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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