South Africa Publishes Updated Guide on Valuation of Assets for Capital Gains Tax Purposes

On 19 August 2015, the South African Revenue Service published the third edition of the Guide on Valuation of Assets for Capital Gains Tax Purposes. The guide covers:

• Methods for determining value of assets acquired before the valuation date (1 October 2001), which include:
  • 20% × (proceeds less allowable expenditure incurred on or after valuation date);
  • Market value; or
  • Time-apportionment;
• Market value on valuation date (1 October 2001), including:
  • Time limit for performing valuations;
  • Who…