Print Page   |   Report Abuse
News & Press: SARS News & Tax Administration

BPR 186 - Asset-for-share transaction between a resident private company and a CIS in securities

12 February 2015   (0 Comments)
Posted by: Author: SARS
Share |

Author: SARS 

BPR 186 - Asset-for-share transaction between a resident private company and a collective investment scheme (CIS) in securities

SARS has published a binding private ruling 186 on asset for share transactions between a resident private company and a CIS security. This ruling deals with the tax treatment of the conversion of an existing portfolio of assets into participatory interests in a CIS under section 42 of the Income Tax Act and the immediate disposal of the participatory interests. 

Please click here to access the binding private ruling 186.


WHY REGISTER WITH SAIT?

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.

MINIMUM REQUIREMENTS TO REGISTER

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.

Membership Management Software Powered by YourMembership  ::  Legal