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News & Press: SARS News & Tax Administration

Binding Class Ruling 044 replaced

21 May 2014   (0 Comments)
Posted by: Author: SARS
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Author: SARS

On 2 May 2014 SARS issued Binding Class Ruling (BCR) 044 which dealt with the repurchase of non-redeemable, non-participating preference shares. 

BCR 044 has been replaced on 20 May 2014 to provide for textual changes and additions to the original ruling for improved clarity - refer to paragraph 5 and third bullet point in paragraph 7. 

Please click here to view the new ruling.


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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