As part of the National Transport Policy, government aims to promote the development of an efficient and productive South African maritime industry capable of competing internationally and to encourage ships to carry the South African flag. To give effect to this strategic objective, section 12Q was inserted with effect from 1 April 2014 and applies to years of assessment commencing on or after that date, providing certain tax relief for qualifying international shipping companies.
The issue of double taxation and the application of various double tax treaties are not dealt with in this note since double taxation relief measures vary from treaty-to-treaty.
The due date for comment is 9 December 2022.
Comments can be sent to policycomments@sars.gov.za
The Draft Interpretation Note can be accessed here.
The issue of double taxation and the application of various double tax treaties are not dealt with in this note since double taxation relief measures vary from treaty-to-treaty.
The due date for comment is 9 December 2022.
Comments can be sent to policycomments@sars.gov.za
The Draft Interpretation Note can be accessed here.
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