BCR 41-60 - South African Revenue Service

A Binding Class Ruling (BCR) is issued in response to an application and clarifies how the Commissioner would interpret and apply the provisions of the tax laws relating to a specific proposed transaction.

Applicable Legislation

Any tax Act administered by SARS as referred to in section 4 of the South African Revenue Service Act, 1997, excluding the Customs and Excise Act, 1964

Also see the Register of all Binding Class Rulings. (The register comprises an overview of all Binding Class Rulings, followed by Binding Class Rulings organised according to tax types.)

Number	Applicable Legislation	Subject
BCR 041	Income Tax Act, 1962	Dividends distributed by a foreign company
BCR 042	Income Tax Act, 1962	Preferred securities issued by a company registered in a foreign country
BCR 043	Income Tax Act, 1962	Antecedent cession of rights to future production rebate credit certificates (PRCCs)
BCR 044	Income Tax Act, 1962 Securities Transfer Tax Act, 2007	Repurchase of non-redeemable, non-participating preference shares BCR 044 has been replaced on 20 May 2014 to provide for textual changes and additions to the original ruling for improved clarity – refer to paragraph 5 and third bullet point in paragraph 7.
BCR 045	Income Tax Act, 1962	Post retirement medical aid benefits
BCR 046	Income Tax Act, 1962	Dividends distributed by foreign companies
BCR 047	Income Tax Act, 1962	Limitation of dividend exemption
BCR 048	Income Tax Act, 1962	Deductibility of expenditure incurred by a portfolio of a collective investment scheme in securities
BCR 049	Income Tax Act, 1962	Deductibility of insurance premiums in respect of an environmental maintenance programme guarantee
BCR 050	Income Tax Act, 1962 Securities Transfer Tax Act, 2007	Tax consequences for unitholders in a REIT of an amalgamation transaction, followed by an asset-for-share transaction The reference to Company B has been corrected to Company A in the third bullet point in paragraph 7.
BCR 051	Income Tax Act, 1962	Taxation of employees participating in a perpetuity employee share incentive scheme
BCR 052	Income Tax Act, 1962 Securities Transfer Tax Act, 2007	Income tax and securities transfer tax consequences for the shareholders of a listed company following an unbundling transaction
BCR 053	Income Tax Act, 1962 Value-Added Tax Act, 1991	Programme of activities of a clean development mechanism project
BCR 054	Income Tax Act, 1962	Employer-provided accommodation
BCR 055	Income Tax Act, 1962 Value-Added Tax Act, 1991	Income tax and value-added tax consequences of a customer loyalty scheme
BCR 056	Income Tax Act, 1962 Securities Transfer Tax Act, 2007	Amalgamation of portfolios of declared hedge fund collective investment schemes with registered hedge fund collective investment schemes
BCR 057	Income Tax Act, 1962	Section 12J(2) deduction by partners
BCR 058	Income Tax Act, 1962	Consequences for beneficiaries on the unwinding of an employee share incentive scheme
BCR 059	Income Tax Act, 1962	Asset for share transaction involving a foreign collective investment scheme
BCR 060	Income Tax Act, 1962	Consequences of an employee share trust disposing of the underlying shares and distributing the net proceeds to the beneficiaries

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