Housing Development Agency Act, 2008
R 385
Securities Transfer Tax Act, 2007 (Act No. 25 of 2007)6. Transfer of unlisted securities |
| (1) | The taxable amount in respect of every transfer of an unlisted security is— |
| (a) | the amount or market value of the consideration given or, where no consideration is given or the consideration given is less than the market value of that security, the market value of that security; and |
| (b) | in the case of the cancellation or redemption of an unlisted security, the market value of that security immediately prior to the cancellation or redemption: Provided that the market value must be determined as if that security was never cancelled or redeemed. |
| (2) | The company which issued the unlisted security is liable for the tax payable in respect of any transfer of that unlisted security. |
