Page 197 - Juta's Indirect Tax

SECURITIES TRANSFER TAX ADMINISTRATION ACT 26 OF 2007 s 2 SECURITIES TRANSFER TAX ADMINISTRATION ACT 26 OF 2007
[ASSENTED TO 21 DECEMBER 2007] [DATE OF COMMENCEMENT: 1 JULY 2008]
(English text signed by the President)
as amended by
Taxation Laws Second Amendment Act 4 of 2008 Revenue Laws Second Amendment Act 61 of 2008 Tax Administration Act 28 of 2011
Tax Administration Laws Amendment Act 44 of 2014
ACT
To provide for the administration of a securities transfer tax; and to provide for matters connected therewith.
BE IT ENACTED by the Parliament of the Republic of South Africa, as follows:—
Sections
ARRANGEMENT OF ACT
CHAPTER 1 ADMINISTRATION AND INTERPRETATION
1 Administration and interpretation of Act
2 Noti cation requirement
3 Payments
4 Refunds
5 Interest on overdue payments
6 .. .
[S. 6 repealed by s. 271 of Act 28 of 2011.]
6A Penalty on default
7 ...
8 Interest on overdue payments and penalty on default recoverable from person to whom security is transferred
9 to 11 inclusive
12 .. .
13 Records
14 to 19 inclusive
. . .
. . .
CHAPTER 2
[Ss. 9 to 11 inclusive repealed by s. 271 of Act 28 of 2011.]
CHAPTER 3 GENERAL PROVISIONS
[S. 12 repealed by s. 271 of Act 28 of 2011.]
[Ss. 14 to 19 inclusive repealed by s. 271 of Act 28 of 2011.]
[S. 6A inserted by s. 36 of Act 44 of 2014 – date of commencement: 20 January 2015.]
20 Offences
21 .. .
22 Short title and commencement
CHAPTER 1 ADMINISTRATION AND INTERPRETATION (ss 1-8)
1 Administration and interpretation of Act
(1) The Commissioner must administer this Act and the Securities Transfer Tax Act, 2007, in accordance with the provisions of the Tax Administration Act, 2011.
[Sub-s. (1) substituted by s. 271 of Act 28 of 2011.]
(1A) Administrative requirements and procedures for purposes of the performance of any duty, power or obligation or the exercise of any right in terms of this Act are, to the extent not regulated in this Act, regulated by the Tax Administration Act, 2011.
[Sub-s. (1A) inserted by s. 271 of Act 28 of 2011.]
[S. 7 repealed by s. 271 of Act 28 of 2011.]
[S. 20 substituted by s. 271 of Act 28 of 2011.]
[S. 21 repealed by s. 271 of Act 28 of 2011.]
(2) Unless the context indicates otherwise, a word or expression to which a meaning has been assigned in the Tax Administration Act, 2011, and any word or expression to which a meaning has been assigned in the Securities Transfer Tax Act, 2007, bears the meaning so assigned for the purposes of this Act.
[Sub-s. (2) substituted by s. 271 of Act 28 of 2011.]
(3) . . .
[Sub-s. (3) deleted by s. 271 of Act 28 of 2011.]
2 Noti cation requirement
Any person to whom an unlisted security is transferred must inform the company which issued that security of the transfer within a period of 30 days as from the date of that transfer.
Juta’s IndIrect tax 2016
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SECURITIES TRANSFER TAX ADMINISTRATION ACT