SARS News
Legislation:
The following changes in the tax laws were noted (date in brackets refers to the date of publication):
Customs & Excise Act
- Various tariff amendments in Part 2A and Part 1 of Schedule No. 1 and Schedule No. 6 (13 September)
- Various rules relating to travellers and the Passenger Processing System’s implementation dates, as well as replacement of forms DA 70, DA 185, DA 331 and TC-01 (13 September)
- Correction notice adjusting a rebate code in Schedule 6 (14 September)
Income Tax Act
- Issue 4 of Interpretation Note 46 – amalgamation of amateur and professional sporting bodies (17 September)
- Average monthly and annual exchange rates Tables A and B updated (17 September)
Tax Administration Act
- A proclamation was made to determine the commencement of the TAA as 1 October 2012, except for certain provisions listed in the schedule to the proclamation (14 September)
Binding Rulings:
The following binding rulings were published (date in brackets refers to date of publication):
Binding Private Rulings
- BPR 120 – the interaction between sections 45 and 24J in the transfer of interest-bearing receivables under the corporate rules (12 September)
- BPR 121 – whether a dividend paid is subject to STC or dividends tax (14 September)
