Page 241 - Juta's Indirect Tax

s7 DIAMOND EXPORT LEVY (ADMINISTRATION) ACT 14 OF 2007
s 15
(e) a copy of any exemption from section 48A of the Diamonds Act pursuant to section 74 of that Act;
(f) a copy of any permit to export granted pursuant to
section 26 (h) of the Diamonds Act;
(h) any ledger, cash book, journal, cheque book, bank
Part V
REFUNDS AND INTEREST (ss. 14-15)
14 . . .
[S. 14 amended by s. 57 (a) and (b) of Act 18 of 2009 and
repealed by s. 271 of Act 28 of 2011.]
15 Interest
(1) The Commissioner must pay interest calculated on a monthly basis in respect of any amount paid in respect of an assessment period to the extent that amount—
(a) exceeds the amount assessed or properly chargeable
under the Levy Act for that assessment period, as the
case may be; and
(b) is not refunded within 30 days after receipt of a
refund claim in respect of that excess.
[NB: The words preceding para. (a) have been amended by s. 58 (a) of Act 18 of 2009, a provision which will come into operation on a date to be determined by the Minister. See Pendlex below.]
(2) A registered person must pay interest calculated on a monthly basis in respect of any amount due in respect of an assessment period that is not paid within 30 days after the ending date of that assessment period.
[NB: Sub-s. (2) has been substituted by s. 58 (b) of Act 18 of 2009, a provision which will come into operation on a date to be determined by the Minister. See Pendlex below.]
(3) Interest required under this section must be calculated at the rate described in paragraph (b) of the de nition of prescribed rate in section 1 of the Income Tax Act.
[NB: Sub-s. (3) has been substituted and a sub-s. (4) has been added by s. 58 (c) and (d), respectively, of Act 18 of 2009, provisions which will come into operation on a date to be determined by the Minister. See Pendlex below.]
statement, deposit slip, paid cheque, invoice, other book of account, or nancial statement; and
any other information required by the Commissioner or the Regulator.
[Sub-s. (1) amended by s. 271 of Act 28 of 2011.]
(2) and (3) . . .
[Sub-ss. (2) and (3) deleted by s. 271 of Act 28 of 2011.]
Part III
ELECTION FOR PRODUCERS AND DIAMOND BENEFICIATORS (ss. 8-9)
8 Election procedure
(1) Notwithstanding section 2 (1) of the Levy Act, any producer or diamond bene ciator may elect pursuant to section 6 of the Levy Act in respect of an assessment period that any person purchasing an unpolished diamond at a diamond exchange and export centre from that producer or diamond bene ciator during that assessment period is not subject to the levy in respect of that diamond.
(2) In order for the election described in subsection (1) to apply in respect of a particular assessment period, that election must be submitted to the Commissioner in the assessment period immediately preceding the assessment period for which that election will apply.
(3) The election described in subsection (1) is deemed to be immediately granted upon submission as described in subsection (2).
9 Penalties
(1) If during any assessment period in respect of which an election described in section 7 applies a producer fails to be exempt (in terms of sections 7, 8 or 9 of the Levy Act, as the case may be) from the levy otherwise imposed under the Levy Act, that producer must—
(a) be deemed to be subject to the levy as if that producer
had delivered a bill of entry for export in respect of all diamonds purchased during that period from that producer at a diamond exchange and export centre; and
(b) take into account the unpolished diamonds subject to the levy described in paragraph (a) for purposes of determining its total gross sales value as described in section 11 (1) (b) of the Levy Act in terms of sections 7, 8 or 9 of the LevyAct (as the case may be).
(2) If during any assessment period in respect of which an election described in section 7 applies, a diamond bene ciator fails to be exempt (in terms of section 11 of the Levy Act) from the levy otherwise imposed under the Levy Act, that diamond bene ciator will be deemed to be subject to the levy as if that diamond bene ciator had delivered a bill of entry for export in respect of all diamonds purchased during that period from that diamond bene ciator at a diamond exchange and export centre.
Part IV
10 to 13 inclusive . . .
[Ss. 10 to 13 inclusive repealed by s. 271 of Act 28 of
2011.]
(i)
Pendlex (to come into operation on the date to be determined by the Minister)
(1) The Commissioner must pay interest in respect of any amount paid in respect of an assessment period to the extent that amount—
Pendlex (to come into operation on the date to be determined by the Minister)
(2) A registered person must pay interest in respect of any amount due in respect of an assessment period that is not paid within 30 days after the ending date of that assessment period.
Pendlex (to come into operation on the date to be determined by the Minister)
(3) Interest required under this section must be calculated on the daily balance owing and compounded monthly at a rate as determined from time to time by the Minister of Finance in terms of section 80 (1) (b) of the Public Finance Management Act, 1999 (Act 1 of 1999).
(4) Where the Minister xes a new rate as described in subsection (3), that new rate applies, for purposes of this Act, from the rst day of the second month following the date on which that new rate came into operation.
* The Tax Administration Act 28 of 2011 commenced with effect from 1 October 2012, except for ss. 187. (2), (3) (a) to (e) and (4), 188 (2) and (3) and 189 (2) and (5); and any provision of Schedule 1 to the Act that amends or repeals a provision of a tax Act relating to interest under that tax Act, to the extent of that amendment or repeal–see Proc 51 in GG 35687 of 14 September 2012
Juta’s IndIrect tax 2016 233
Pendlex
[NB: S. 15 has been repealed by s. 271 of Act 28 of 2011, a provision which will be put into operation by proclamation.]*
DIAMOND EXPORT LEVY (ADMIN) ACT