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BPR 193: Debt reduction by way of set-off

Monday, 15 June 2015   (0 Comments)
Posted by: Author: SARS
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Author: SARS

This ruling deals with the repayment of shareholder loans by way of set-off. The loan outstanding from the subscription of a new issue of ordinary shares will be used to set-off against the amount outstanding under the shareholders loans.

Please click here to access the ruling (15 June 2015).



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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