8 August 2009
Binding Private Ruling No. 040
SARS ATR Division
This ruling deals more specifically with the timing as to when the liability to withhold employees’ tax arises in relation to a gain realised by an employee upon the vesting in such employee of a “restricted equity instrument” falling within the ambit of section 8C of the Act. For this purpose particular regard is had for the specific provisions of the relevant share option scheme and whether the vesting event as per section 8C of the Act gives rise to the withholding liability for the employer.
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