KMOS

76B Purpose

The purpose of this Part is to promote tax certainty in respect of an affected transaction that will prevent or minimise double taxation and associated dispute resolution procedures.

[Section 76B inserted by section 10 of Act 18 of 2023]

Section 76B (ITA) – Purpose

PART IA (ITA) – Advance Pricing Agreements

BGR68 (VAT) – Acceptable Documentation for Input Tax on Upward Adjustments on Imports (Sections 16(2)(g), 72 of VAT Act)

BGR67 (ITA) – Income Tax Exemption of a Grant Received under the Clothing, Textiles, Footwear and Leather Growth Programme (Sections 10(1)(y), 12P(2), Eleventh Schedule of ITA Act)

BGR66 (VAT) – VAT Implications of Overpayments on the Importation of Goods (“Input tax” definition, sections 16(2)(d), 16(2)(dA), 16(3)(a)(iii), 16(3)(b)(ii) of VAT Act)

BPR403 (ITA) – Taxation of covered persons in respect of equity linked notes (Section 24JB)

BPR402 (ITA) – Transfer of long-term insurance business to a local branch of a foreign reinsurer (Various short-term insurance definitions, sections 11(a), 25B, 28, 29A, paragraph 11 of Eighth Schedule)

BPR401 (ITA) – Leasehold improvement allowance (Section 11(h) of ITA)

BPR400 (ITA) – Donations tax implications on the issue of shares at nominal value to enhance BBBEE credentials (Sections 54, 55, 56, 58 of ITA)