Interpretation notes are intended to provide guidelines to stakeholders (both internal and external) on the interpretation and application of the provisions of the legislation administered by the Commissioner.
These notes are amended when necessary in line with policy developments and changes in legislation, and will ultimately replace the existing general notes and practice notes, as well as internal circular minutes, to the extent that they relate to the interpretation of the various laws.
For an overview of all interpretation notes published to date, see the Register of all Interpretation Notes.
NumberSubjectApplicable Legislation
IN 131

Exemption of income relating to South African ships used in international shipping

Income Tax Act, 1962

Section 12Q

Exemption for international aid received or accrued under an official development assistance agreement

Income Tax Act, 1962

Section 10(1)(yA)

Understatement penalty: Meaning of “maximum tax rate applicable to the taxpayer”

Tax Administration Act, 2011

Section 222(5)

Definition of “associated enterprise”

Income Tax Act, 1962

Section 31

Determination of the taxable income of certain persons from international transactions: Intra-group loans

Income Tax Act, 1962

Section 31

Extraordinary dividends treated as income or proceeds on the disposal of certain sharesIncome Tax Act, 1962

Section 22B and paragraph 43A of the Eighth Schedule

Associations: Funding requirementIncome Tax Act, 1962

Section 30B(2)(b)(ix)

Public benefit organisations: Provision of residential care for retired persons
Income Tax Act, 1962

Paragraph 3(c) in Part  I of the Ninth Schedule

Effect on the date of issue of a share arising from a change in the redemption features
Income Tax Act, 1962

Section 8E

Public benefit activity: Bid to host or hosting of any international event
Income Tax Act, 1962

Paragraph 11(b) in Part I in the Ninth Schedule

Deduction of medical lump sum payments
Income Tax Act, 1962Section 12M

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