Tax Administration Act, 2011 (Act No. 28 of 2011)

Notices

Application and cost recovery fees for binding private rulings and binding class rulings in terms of Section 81(1) of the Tax Administration Act, 2011 (Act No. 28 of 2011)

1. General

Purchase

Any term or expression contained in this notice to which a meaning has been assigned in a tax Act as defined in section 1 of the Tax Administration Act, 2011, has the meaning so assigned, unless the context indicates otherwise, and the following terms have the following meaning:

“small, medium and micro enterprise”

is—

(a)	any person, excluding a listed company, if the gross income for the most recent year of assessment did not exceed the amount prescribed in the definition of “small business corporation” under section 12E(4)(a)(i) of the Income Tax Act, 1962; and

(b)	in respect of applications for VAT rulings only, any partnership, where the gross income for the most recent year of assessment did not exceed the amount prescribed in the definition of “small business corporation” under section 12E(4)(a)(i) of the Income Tax Act, 1962.

“urgent applications”

are applications filed less than 40 business days, but more than 20 business days before a proposed transaction. No application will be accepted less than 20 days prior to the proposed transaction taking place.

“direct costs”

may include travel costs or the costs incurred in obtaining the services of a consultant or expert when necessary to advise on the technical aspects of a proposed transaction.