This binding general ruling (“BGR”) provides guidance on the interpretation and application of the excluded activities under section 12R(4)(b) of the Income Tax Act 58 of 1962 (“IT Act”) conducted by a qualifying company located within a special economic zone (“SEZ”).
SARS has issued a number of draft interpretation notes for public comment. The draft interpretation notes relate to sale and leaseback arrangements, public benefit organisations and activities, understatement penalties, recoupment of amounts deducted or set off and mining rehabilitation companies or trusts.
SARS has issued a new guide on how to submit an income tax return via the SARS MobiApp and updated guides relating to tax rates/duties/levies, the completion and submission of employees’ tax certificates and submission of an individual’s tax return via eFiling.
The latest Tax Practitioner newsletter (issue 29) has been published and deals with a few topics including the 2021 Tax Statistics, PAYE Audits conducted by SARS and SARS’s commitment to increased use of data for trade efficiency.
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