Page 10 - P6 Slide Taxation - Lecture Day 5 - Foreign Exchange
P. 10
• Local currency
Person? Yoa commencing
TP? on/after
1 January 2011
a) a person iro an exchange item The functional
attributable to a PE establishment currency of the PE.
outside the Republic (inflation?)
b) any resident iro an exchange item The currency of the
which is not attributable to a Republic (Rand).
permanent establishment outside
the Republic.
c) any non-resident iro an exchange The currency of the
item which is attributable to a PE in Republic (Rand).
the Republic.
*Ignore par (d), (e) and (f) provisions as it relates to Headquarter Co, Domestic Treasury Co
and International Shipping Company – Not part of SAICA syllabus!
