South Africa Publishes Draft Update to Interpretation Note on Connected Persons

The South African Revenue Service has published a draft update to the interpretation note (IN) on the definition of a "connected person" for income tax purposes. The Draft IN 67 (Issue 3) updates the previous version to take account of legislative amendments and also includes a discussion regarding connected persons in relation to deceased estates and insolvent estates.

The definition of "connected person" identifies connected persons in relation to different types of persons, namely:

• Natu…