The South African Revenue Service (SARS) has published an updated Guide on Valuation of Assets for Capital Gains Tax Purposes (Issue 5), which is dated 28 July 2021. The guide provides general guidance on determining the market value of assets for Capital Gains Tax (CGT) purposes, including sections on:
- Determining a capital gain or capital loss;
- Meaning of market value;
- Market value of assets on valuation date, including:
- Time limit for performing valuations and circumstances when market v…