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Issue 2 of IN 63: Rules for the translation of amounts measured in foreign currencies

18 August 2015   (0 Comments)
Posted by: Author: SARS
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Author: SARS

Rules for the translation of amounts measured in foreign currencies other than exchange differences governed by section 24I and the Eighth Schedule.

This Note provides guidance on the application of the foreign currency translation rules contained in the Act, except for those in –

• section 24I; and

• the Eighth Schedule to the Act.

Please click here to view issue 2 of IN 63.

Please click here to view updated summary of all IN to reflect the changes (12 August 2015).


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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