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Issue 3 of Interpretation Note 11 - trading stock - assets not used as trading stock

Thursday, 12 February 2015   (0 Comments)
Posted by: Author: SARS
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Author: SARS

SARS has published issue 3 of Interpretation Note 11 on trading stock. This interpretation note provides guidance on the income tax treatment of the proceeds of capital assets manufactured and then sold by a taxpayer, where those assets are similar to the trading stock manufactured by that taxpayer. 

Please click here to access Issue 3 of Interpretation Note 11.



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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