HomeHome SearchSearch MenuMenu Our productsOur products

7 ATR requests that qualify for discretionary exclusion

by , 10 November 2015
An Advanced Tax Ruling (ATR) is something that SARS will grant you if there are no tax laws in place for a particular transaction or project that you want to start.

But, when you apply for an ATR it's worth noting there are certain circumstances or requests whose exclusion is discretionary.

While the law doesn't require the Commissioner to reject certain applications, it doesn't stop him from doing it either.

Here are 7 requests and circumstances that could qualify for a discretionary exclusion:

1.     Material facts for an issue that can't be established at the time of application. In other words, this can be when any part of a transaction is still uncertain, and you ask SARS to clarify on how it will treat the transaction for income tax purposes. An example could be the timing of receipts on complex manufacturing machinery.
 
2.      An issue that relies on assumptions for a future event. In other words, it can't be reasonably determined at the time of application.
 
3.      An issue that would be better dealt with by the authorities of the parties to an agreement to avoid double taxation.
 
*****Advertisement*****

Legally pay less tax            

139 reasons SARS doesn't want you to see this
 
**********************
 
4.      A request for a ruling on a similar issue that you have already received a ruling for.
 
5.      You fail, or refuse, to provide information that has been requested by the Commissioner.
 
 
6.      The application and interpretation of a foreign law.
 
7.      A matter that can be resolved by SARS under the Fourth and Seventh Schedule of the Income Tax Act.
 

So, there were 7 requests that can qualify for discretionary exclusion. Now take careful note of them BEFORE applying for an Advanced Tax Ruling.

To find out more on discretionary exclusions on ATRs, subscribe to the Practical Tax Loose Leaf Service.

*****Advertisement*****

The Practical Tax Loose Leaf Service represents 11 years of tradition, prestige and value!

The Practical Tax Loose Leaf Service first published in May 2003!

Last updated: November 2015!

•       Over 500 pages of definitions and legal regulations, useful advice, exceptions to the rules that help you slip through the legislative jungle of taxes.
•       167 Case studies and practical examples that show you what elements you should consider for your taxes to be perfect;
•       83 Red flags you need to watch out for and the penalties you'll face if you don't respect them;
•       Six sample templates at your disposal, ready to be filled in, customised and printed.
 
The Practical Tax Loose Leaf Service is a full service tax consultancy you can use every day!

... Click here for details >>


**********************


Related articles




Related articles



Related Products



Comments
0 comments


Recommended for You 

  Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance



Here are all the most interesting, thought-provoking and common tax questions
asked by our subscribers over the last tax year – everything from A to Z!

To download Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance click here now >>>
  Employees always sick? How to stop it today



Make sure you develop a leave policy to regulate sick leave in your company.

BONUS! You'll find an example of the leave policy and procedure in this report.

To download Employees always sick? How to stop it today click here now >>>
  Absenteeism: Little known ways to reduce absenteeism



This FREE e-report will tell you how you can reduce absenteeism in your workplace while avoiding the CCMA and without infringing your employees' labour rights.

To download Absenteeism: Little known ways to reduce absenteeism click here now >>>
  7 Health & safety strategies to save you thousands



Don't let a health and safety incident cost you one more cent. Implement these seven
strategies in your company today.

To download 7 Health & safety strategies to save you thousands click here now >>>