SARS has published issue 3 of Interpretation Note 64, which provides guidance on the application and interpretation of section 10(1)(e) of the Income Tax Act. This provision exempts from income tax the levy income of a body corporate , a
share block company and an association of persons. It also provides a basic
exemption for these qualifying entities.
Please click here to view issue 3 of IN 64 (17 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.