89.    Binding general rulings

 

(1)     A senior SARS official may issue a ‘binding general ruling’ that is effective for either-

 

(a)     a particular tax period or other definite period; or

 

(b)     an indefinite period.

 

(2)     A ‘binding general ruling’ must state-

 

(a)     that it is a ‘binding general ruling’ made under this section;

 

(b)     the provisions of a tax Act which are the subject of the ‘binding general ruling’; and

 

(c)     either-

 

(i)      the tax period or other definite period for which it applies; or

 

(ii)     in the case of a ‘binding general ruling’ for an indefinite period, that it is for an indefinite period and the date or tax period from which it applies.

 

(3)     A ‘binding general ruling’ may be issued as an interpretation note or in another form and may be issued in the manner that the Commissioner prescribes.

 

(4)     A publication or other written statement does not constitute and may not be considered or treated as a ‘binding general ruling’ unless it contains the information prescribed by subsection (2).