Transcription of INTERPRETATION NOTE: NO. 16 (Issue 2) ACT : …
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INTERPRETATION NOTE: NO. 16 (Issue 2) ACT : …
INTERPRETATION NOTE: NO. 16 (Issue 2) DATE: 2 February 2017 ACT : INCOME TAX ACT 58 OF 1962 SECTION : SECTION 10(1)(o)(ii) SUBJECT : EXEMPTION FROM INCOME TAX: FOREIGN EMPLOYMENT INCOME Preamble In this Note unless the context indicates otherwise SDL refers to the skills development levy under the Skills Development Levies Act, 1999; section means a section of the Act; the Act means the Income Tax Act 58 of 1962; UIF refers to unemployment insurance fund contributions under the Unemployment Insurance Contributions Act, 2002; and any other word or expression bears the meaning ascribed to it in the Act. All guides and INTERPRETATION notes referred to in this Note are available on the SARS website at 1. Purpose This Note discusses the INTERPRETATION and application of the foreign employment remuneration exemption in section 10(1)(o)(ii).
3 qualifies for exemption under section10(1)(o)(ii). The remuneration that qualifies is remuneration received by or accrued to an employee “by way of” the following amounts, namely, salary, leave pay, wage,
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