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BCR044 - Repurchase of non-redeemable, non-participating preference shares

Friday, 02 May 2014   (0 Comments)
Posted by: Author: SARS Legal and Policy
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Author: SARS Legal and Policy

SARS has published BCR 044 on the 2nd of May 2014.

This ruling deals with the tax consequences of a repurchase of non-redeemable, non-participating preference shares. 



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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