Practice Notes

The Practice Notes are divided into the following categories:
  • Retirement Fund
  • Income Tax
  • Value-Added Tax
These Practice Notes will eventually be reviewed and, depending on the circumstances, either be withdrawn, or replaced by Interpretation Notes.
 
Top Tip
Only the Practice Notes that are still valid, are listed here. Older ones that were withdrawn or replaced are now in the Practice Notes Archive area.
 
 
 
 
Retirement Fund​
​Number Notes
RF 1/2012 ​This Note replaced Retirement Fund Practice Note RF 1/2011 with effect from 5 November 2012
​RF 1/2004

​Retirement Fund Practice Note RF 1/2004

Withdrawn on 7 June 2016 due to legislative amendments to paragraph 4(1) of the Second Schedule to the Income Tax Act, 1962

RF 1/1995 ​Retirement Fund Practice Note RF 1/1995
 
 
Income Tax
​Number Notes
​4/1999 ​Treatment of gains and losses on foreign exchange transactions
5/1999 ​Tax implications of lending arrangements in respect of marketable securities
7/1999

​Transfer pricing

The record requirements of this Practice Note (including the addendum) will now be replaced by the record requirements of Notice 1334 of Government Gazette 40375 dated 28 October 2016 to the extend applicable (as mentioned in the Briefing Note

7/1999 - Addendum

​Addendum to Practice Note 7 of 1999 - Transfer pricing

The record requirements of this Practice Note (including the addendum) will now be replaced by the record requirements of Notice 1334 of Government Gazette 40375 dated 28 October 2016 to the extend applicable (as mentioned in the Briefing Note)

​1/1996

​Provision for ship repairs in terms of section 14(1)(c) in the Income Tax Act, 1962 

Withdrawn on 18 August 2015: Section 14(1)(c) was repealed by Taxation Laws Amendment Act, No. 31 of 2013

2/1996 ​Determination of taxable income where financial assistance has been granted by a non-resident of the Republic to a resident of the Republic
​36/1995 ​Valuation of trading stock
37/1995 ​Deduction of fees paid to accountants, bookkeepers and tax consultants for the completion of income tax returns
42/1995 ​Processes of manufacture, processes similar to a process of manufacture, etc
​43/1995

​Treatment of certain types of policy loans

Withdrawn on 18 August 2015: Section 29 was repealed by Revenue Laws Amendment Act No. 20 of 2006

22/1994 ​Deduction of recurrent expenditure incurred by public companies
​23/1994

​Taxation of trusts and trust beneficiaries - section 25B

Withdrawn on 18 August 2015: Section 25B was substituted by section 27(1) of the Revenue Laws Amendment Act No. 32 of 2004 with effect from years of assessment ending on or after 24 January 2005

31/1994 ​Interest paid on money borrowed
35/1994 ​Bequest of trust income to surviving spouse
​5/1987 ​Section 105A (and section 44A of the Sales Tax Act) - Reporting of unprofessional conduct
​4/1985 ​Nominee Directors - Directors' fees
 
 
 
Value-Added Tax​
​Number Notes
1/2001

Treatment of Insurance Indemnity Payments - withdrawn on 1 April 2016

Specific supplies in the short-term insurance industry, including deemed supplies in respect of insurance indemnity payments are dealt with in the VAT 421 - Guide for Short-Term Insurance and Binding General Ruling No. 14 - VAT Treatment of Specific Supplies in the Short-Term Insurance Industry.

2/1991 ​Tax Invoices, Debit Notes and Credit Notes - withdrawn by Issue 2 of Interpretation Note 83 on 9 April 2015
​3/1991 ​Price lists and price tickets on goods - withdrawn on 1 April 2016

(1) The transitional rules for the change over from sales tax to VAT are obsolete.
(2) Should there be a need to approve alternative methods of displaying prices, approval may be granted to a vendor or class of vendors on request under proviso (iii) to section 65.
​4/1991

​Time of supply - withdrawn on 1 April 2016

(1) References to section 9(3)(d)(i) are obsolete.
(2) Explanations relating to the conclusion of agreements before the VAT Act commenced, as well as retention money received after 30 September 1991 relating to services performed before that date, are outdated.
(3) Normal time of supply rules apply to agent’s commission. The time of supply rules relating to fixed property are covered in the VAT 409 - Guide for Fixed Property and Construction.

​7/1992 ​Passenger transport
​10/1991

​International transportation of goods and related activities - withdrawn on 1 April 2016

(1) The legislation was amended.
(2) The normal requirements of sections 11(2)(a), (c) and (e) must be met for the zero-rating to apply.

​11/1992

​Transport-related services - withdrawn on 1 April 2016

(1) The legislation was amended.
(2) The normal requirements of sections 11(2)(a), (c) and (e) must be met for the zero-rating to apply.

​12/1993

​Zero-rated supply of brown bread - withdrawn on 1 April 2016

The term “brown bread” in Item 1 of paragraph 1, under Part B of Schedule 2 to the VAT Act is defined with reference to Regulation 1 of the Regulations in terms of Government Notice R3.577, published in Government Gazette No. 13074 of 15 March 1991. Therefore, the details in the Practice Notice are not necessary. Note however that these regulations have been repealed and replaced by the Regulations contained in Government Notice No. 186 of 22 February 2008, published in Government Gazette No. 30782.

​13/1994 ​Professional hunters and taxidermists - withdrawn by Issue 2 of Interpretation Note 81 on 9 April 2015
 
 
 
Last Updated: 03/11/2016 3:38 PM     print this page
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