Practice Notes - South African Revenue Service

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These Practice Notes will eventually be reviewed and, depending on the circumstances, either be withdrawn, or replaced by Interpretation Notes.

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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 Older ones that were withdrawn or replaced are now in the Practice Notes Archive area.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RF 1/2004	Retirement Fund Practice Note RF 1/2004 Withdrawn on 7 June 2016 due to legislative amendments to paragraph 4(1) of the Second Schedule to the Income Tax Act, 1962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
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1/1996	Provision for ship repairs in terms of section 14(1)(c) in the Income Tax Act, 1962 Withdrawn on 18 August 2015: Section 14(1)(c) was repealed by Taxation Laws Amendment Act, No. 31 of 2013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income where financial assistance has been granted by a non-resident of the Republic to a resident of the Republic Withdrawn on 5 August 2019, with effect from years of assessment commencing on or after 1 April 2012: Section 31 was substituted by the Taxation Laws Amendment Act No. 24 of 2011, with effect from years of assessment commencing on or after 1 April 2012
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43/1995	Treatment of certain types of policy loans Withdrawn on 18 August 2015: Section 29 was repealed by Revenue Laws Amendment Act No. 20 of 2006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

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