By Tando Mfengwana
08 October 2006
The South African Revenue Service has introduced an advanced tax ruling system which allows tax payers to request judgment from the taxman on the interpretation and application of the tax laws to a particular transaction.
The Weekend Argus reports that the Commissioner of SARS can issue two types of rulings, binding private rulings and binding general rulings.
The report says that applications for the binding private ruling can be made on the e-filing site (http://www.sarsefiling.co.za/) from October 16.
An application and a cost-recovery fee is payable, the application fee for small businesses is R2 500 and R 10 000 for all other taxpayers.
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