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BCR 038: Exchange of one restricted equity instrument for another

Wednesday, 20 March 2013   (0 Comments)
Posted by: Author: SARS Legal & Policy
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Source: SARS Legal & Policy

SARS recently issued Binding Class Ruling (BCR) 038.

BCR 038 deals with  the tax consequences under sections 8C and 42 of the Act in respect of the exchange of one restricted equity instrument for another.

This binding class ruling is valid for a period of 10 years from 20 December 2012.

Please click here to download BCR 038.



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.

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