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News & Press: Corporate Tax

BPR057(amended) Interest incurred on a loan to acquire a company as a going concern

09 January 2012   (0 Comments)
Posted by: SAIT Technical
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BPR 057

Interest incurred on a loan obtained to acquire the business of a company as a going concern through the acquisition of the shares of the company

This ruling has been replaced in order to highlight certain facts and to introduce a clarifying note (point 7).  No factual information has been amended - 28 December 2011

To access the ruling, click here


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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