Page 240 - Juta's Indirect Tax

s 1 DIAMOND EXPORT LEVY (ADMINISTRATION) ACT 14 OF 2007 s 7
‘Levy Act’ means the Diamond Export Levy Act, 2007;
‘notice of assessment’ means a notice of assessment as described in section 10;
‘registered person’ means a person registered by the Commissioner as described in section 2 (4); and
‘Tax Administration Act’ means the Tax Admini- stration Act, 2011.
[De nition of ‘Tax Administration Act’ inserted by s. 271 of Act 28 of 2011.]
(2) Unless the context indicates otherwise, any word or expression to which a meaning has been assigned in the Diamonds Act, 1986 (Act 56 of 1986), or the Levy Act bears the meaning so assigned for purposes of this Act.
(3) Unless the context indicates otherwise, a word or expression to which a meaning has been assigned in the Tax Administration Act bears that meaning for purposes of this Act.
[Sub-s. (3) added by s. 271 of Act 28 of 2011.]
Part II
REGISTRATION, RETURNS AND PAYMENTS (ss. 2-7)
2 Registration
(1) A person quali es for registration in terms of this Act if that person is a producer, dealer, diamond bene ciator or holder of a permit to export pursuant to section 26 (h) of the Diamonds Act.
(2) . . .
[Sub-s. (2) deleted by s. 54 (a) of Act 18 of 2009.]
(3) A person who quali es for registration on or after the promulgation date of this Act must apply to register with the Commissioner within seven days of qualifying
for registration.
[Sub-s. (3) substituted by s. 54 (b) of Act 18 of 2009.] (4) The Commissioner must register a person who quali es for registration and that registration takes effect from the beginning date of the assessment period during
which that person quali ed for registration.
3 Cancellation of registration
(1) A registered person who no longer quali es for registration or who anticipates that he or she will no longer qualify for registration from a speci ed date may apply to the Commissioner for cancellation of registration.
(2) Upon receipt of an application in terms of subsection (1), the Commissioner may cancel a registered person’s registration with effect from the day after the ending date of the assessment period in which that registered person no longer quali es for registration.
(3) The obligations and liabilities under this Act or the Levy Act of a person in respect of anything done, or omitted to be done, by that person while that person is a registered person shall not be affected by the fact that the Commissioner has cancelled that person’s registration.
4 Returns and assessment periods
(1) (a) A registered person must submit a return and payment as contemplated in subsection (5) to reach any of ce designated by the Commissioner by rule made under section 18 during the hours of business prescribed by the Commissioner by rule under the Customs and Excise Act, 1964, within a period of 30 days after the ending date of each assessment period described in subsection (2), but not later than the penultimate business day of that period.
(b) For the purposes of subsection (1) (a), ‘business day’ means any day which is not a Saturday, Sunday or public holiday.
[Sub-s. (1) substituted by s. 55 of Act 18 of 2009.]
(2) For purposes of this Act, each registered person’s assessment period—
(a) (b)
in the case of a natural person—
(i) begins on 1 March and ends on 31 August; and
(ii) begins on 1 September and ends on the last day of February; and
in the case of any other person—
(i) begins on the rst day of the nancial year for
which nancial accounts are prepared and ends
six calendar months after that day; and
(ii) begins on the following day immediately after the period described in subparagraph (i) and ends on the last day of that nancial year, and if any nancial year begins on any day other than the rst day of a calendar month, the nancial year will be
deemed to begin on the rst day of that month.
(3) The Commissioner may make rules in respect of circumstances when an assessment period may be shorter
or longer than six months.
5 Payment of levy
(1) A registered person must submit payment of any levy due in respect of a return to which that payment relates on the date that return must be submitted as described in section 4 (1).
(1A) Notwithstanding subsection (1), the Commissioner may require—
(a) a registered person; or
(b) a person that quali es for registration under section 2, that is not ordinarily resident in the Republic or does not regularly and substantially engage in processes that are directly related to unpolished diamond bene ciation, production or sales in the Republic to submit payment of the levy in the form, manner (including electronically) and place determined by the Commissioner.
[Sub-s. (1A) inserted by s. 26 of Act 4 of 2008.]
(2) To the extent a value described in section 2 (2) of the Levy Act in respect of an unpolished diamond is denominated in a foreign currency, that value will be translated into the currency of the Republic on such date and at such rate as determined by the Commissioner, in consultation with the South African Reserve Bank, or if no such rate is determined for such date, the latest rate determined before that date.
[Sub-s. (2) substituted by s. 56 of Act 18 of 2009.]
6 Form, manner and place determined by Commissioner
All registrations, returns, forms, payments and elections required in terms of this Act must be submitted in the form, manner (including electronically) and place as determined by the Commissioner in respect of any matter necessary to administer this Act or Levy Act.
7 Maintenance of records
(1) In addition to the records required under the Tax Administration Act, every registered person must retain the following records—
(a) (b)
(c) (d)
the original note of receipt or purchase in respect of an unpolished diamond as described in section 56 of the Diamonds Act;
a register in respect of unpolished diamonds as described in section 57 of the Diamonds Act;
a record of all unpolished diamonds imported into or exported from the Republic by that person with suf cient detail to identify diamonds, values, purchasers and sellers involved;
a copy of any temporary exemption certi cate described in section 5 of the Levy Act;
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Juta’s IndIrect tax 2016