This ruling determines the meaning of "equity share” and "controlled group company” with reference to a company that proposes to issue different classes of ordinary shares. It further determines the meaning of "investment income”, as defined in section 12E(4)(c).
Please click here to view ruling (11 September 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.