On 8 December 2017, the South African Revenue Service issued an updated Interpretation Note on connected persons (IN 67) and a new Interpretation Note on the taxation of REITs and controlled companies (IN 97).
IN 67 provides detailed guidance on the interpretation and application of the definition of "connected person" for income tax purposes (different definition applies for VAT), including in relation to natural persons, trusts, members of partnerships or foreign partnerships, and compan…