SARS Practice Note 22/1994: Deduction of recurrent expenditure incurred by public companies (source: https://www.sars.gov.za/lapd-intr-prn-2012-19-income-tax-practice-note-22-of-1994/) Practice Note: No. 22 – 13 June 1994 Income Tax: Deduction of recurrent expenditure incurred by public companies 1. The following expenditure incurred by public companies is allowable as a deduction for income tax purposes: 1.1 Printing costs of annual reports. 1.2 Publishing of annual financial reports. 1.3 Johannesburg Stock Exchange – annual quotation fees. 1.4 Transfer secretary fees. 2. However, where a public company is in receipt of both taxable income and exempt income, an equitable allocation of expenditure is to be made.

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