Section 9K (ITA) – Listing of security on exchange outside Republic

Posted on by admin_kmos

9K.    Listing of security on exchange outside Republic

(1)     Where a natural person or a trust that is a resident holds a security in a company and that security is delisted on an exchange as defined in section 1 of the Financial Markets Act and licenced under section 9 of that Act, and subsequent to that delisting that security is listed on an exchange outside the Republic, that person must be treated as having—

(a)     disposed of that security for an amount received or accrued equal to the market value of that security as contemplated in the definition of “market value” in section 9H(1) on the day that the security is listed on the exchange outside the Republic; and

(b)     reacquired that security on the same day on which that security is treated as having been disposed of under paragraph (a) for expenditure in an amount equal to that market value.

(2)     For the purposes of section 9C(2), a security that is listed on an exchange outside the Republic as contemplated in subsection (1) must be treated to be one and the same security that is delisted.

[Section 9K inserted by section 9(1) of Act 23 of 2020 effective on 1 March, 2021 and applicable in respect of any security listed on an exchange outside the Republic on or after that date]

Schedule 10 (Customs Act) – Part 1C – Economic Partnership Agreement between the SACU Member States and Mozambique, of the One Part and the UK and Northern Ireland, of the Other Part (C&E 10.1C)

Posted on by admin_kmos

Schedule 10 (Customs Act) – Part 1C – Economic Partnership Agreement between the SACU Member States and Mozambique, of the One Part and the UK and Northern Ireland, of the Other Part (C&E 10.1C)

“Intermediary” definition of section 1 of VAT Act

Posted on by admin_kmos

“intermediary” means a person who facilitates the supply of electronic services supplied by the electronic services supplier and who is responsible for issuing the invoices and collecting payment for the supply;

[Definition of “intermediary” inserted by section 8(1)(b) of Act 21 of 2018 effective on 1 April, 2019 and applicable in respect of supplies made on or after that date]