In the income tax context, one of the issues that has been considered by our courts on a number of occasions, is the issue of deductibility of interest. On 5 November 2021, the South African Revenue Service (SARS) issued Binding Private Ruling 369 (Ruling), which deals with the deductibility of interest pursuant to the liquidation of a company. We briefly discuss the Ruling in today’s alert.
Interest not always deductible? SARS issues interesting ruling