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.
| Number | Subject | Applicable Legislation | |
|---|---|---|---|
Section 24I – Gains or losses on foreign exchange transactions | Income Tax Act, 1962 | Sections 24I and sections 1(1) – definition of “trading stock”, 3(4)(b), 6quat(4), 8(4)(a), 9(2)(l), 9(4)(e), paragraph (c)(ii) and (iii) of the proviso to section 9D(2A), 9D(6), 9D(9)(fA)(ii) and (iii), 9D(9a)(a)(iii), 11(a), 11(i), 11(j), 19, 20(2), 22(3)(a)(i), 24J(2), (3) and (5A) and 25D, paragraphs 12A, 35(3)(a) and 43 of the Eighth Schedule and paragraph 4(1) of the Tenth Schedule | |
| IN 102 (Issue 2) | Classification of risk policy | Income Tax Act, 1962 | Section 29A |
| IN 103 | The value-added tax treatment of supplies of international and ancillary transport services | Value-Added Tax Act, 1991 | Section 11(2)(a), (b), (c), (d) and (e) |
| IN 104 | Exemption – Foreign pensions and transfers | Income Tax Act, 1962 | Section 10(1)(gC)(ii) |
| IN 105 | Deductions in respect of buildings used by hotelkeepers | Income Tax Act, 1962 | Section 13bis |
| IN 106 | Deduction in respect of certain residential units | Income Tax Act, 1962 | Section 13sex |
| IN 107 | Deduction in respect of commercial buildings | Income Tax Act, 1962 | Section 13quin |
| IN 108 | Meaning of “bulk” in Schedule 2 | Mineral and Petroleum Resources Royalty Act, 2008 | Schedule 2 |
| IN 109 | Lease premiums | Income Tax Act, 1962 | Paragraph (g) of the definition of “gross income” and section 11(f) and (h) |
| IN 110 | Leasehold improvements | Income Tax Act, 1962 | Paragraph (h) of the definition of “gross income” and section 11(g) and (h) |
| IN 111 | No-value provision in respect of the rendering of transport services by any employer | Income Tax Act, 1962 | Paragraph 10(2)(b) of the Seventh Schedule |
| IN 112 | Section 18A: Audit certificate | Income Tax Act, 1962 | Section 18A(2B) and (2C) |
| IN 113 | Apportionment of surplus and minimum benefit requirements: Pension Funds Second Amendment Act | Income Tax Act, 1962 | Section 1(1) – Definitions of “pension” and “provident funds” and paragraph 2C of the Second Schedule |
| IN 114 | Interaction between section 25B(1) and section 7(8) ) in case of conflict, inconsistency or incompatibility | Income Tax Act, 1962 | Sections 25B(1) and 7(8) |
| IN 115 | Withholding tax on interest | Income Tax Act, 1962 | Sections 50A to 50H |
| IN 116 | Withholding tax on royalties | Income Tax Act, 1962 | Sections 49A to 49H |
| IN 117 | Taxation of the receipt of deposits | Income Tax Act, 1962 | Section 1(1) – Definition of “gross income” |
| IN 118 | Value-added tax consequences of points-based loyalty programmes | Value-Added Tax Act, 1991 | Section 1(1) Definitions of “consideration”, “input tax” and “supply”, sections 7 and 10 |
| IN 119 | Deductions in respect of improvements to land or buildings not owned by a taxpayer | Income Tax Act, 1962 | Sections 12N and 12NA |
| IN 120 | Prohibition of deductions in respect of certain intellectual property | Income Tax Act, 1962 | Section 23I |
