Amalgamations of industrial organisations — exemption

Circumstances/Transactions:

A transfer made under, or in accordance with, the rules of an industrial organisation and the transfer is made to another industrial organisation as a consequence of the amalgamation of 2 or more industrial organisations.

Evidence:

1. The Digital Duties Form.
2. Documentary evidence to show that the transfer is made under, or in accordance with, the rules of an industrial organisation.
3. A statutory declaration by the transferee stating all of the following:
   • The capacity of the person making the declaration.
   • The capacity in which the transferee will hold the property.
   • Whether the transfer is made as a consequence of the amalgamation of 2 or more industrial organisations, and if so, specify the full name of each of the organisations.

See Revenue Ruling DA-20.