The South African Revenue Service has published a draft guide for public comment, the Draft Tax Exemption Guide for Companies Wholly Owned by Institutions, Boards or Bodies. The draft guide concerns the requirements for the exemption from income tax provided by Section 10(1)(cA)(ii) for a company wholly owned by an institution, board, or body provided the operations of such company are ancillary or complementary to the object of the institution, board, or body. The deadline for comments is 8 October 2021. --- Draft Tax Exemption Guide for Companies Wholly Owned by Institutions, Boards or Bodies Preface This guide provides general...