Page 265 - Juta's Indirect Tax

s 4 MINERAL AND PETROLEUM RESOURCES ROYALTY (ADMINISTRATION) ACT 29 OF 2008 s 9
the same year of assessment as that of a member of that unincorporated body.
(3) If the members of an unincorporated body made an election mentioned in subsection (1)—
(a) the liabilities and duties imposed under this Act and
the Royalty Act in respect of that unincorporated body must be applied and performed by that unincorporated body separately from the members of that unincorporated body;
(b) any other actions that are permitted by a person registered under this Act in respect of that unincorporated body must be performed by that unincorporated body separately from the members of that unincorporated body; and
(c) section 10 of the Royalty Act applies to that unincorporated body for as long as that unincorporated body is deemed to be a person by virtue of the election made in terms of subsection (1).
(4) Each member of an unincorporated body that made an election mentioned in subsection (1) is liable jointly and severally with the other members of that unincorporated body for—
(a) the duties of that unincorporated body under this Act
and the Royalty Act;
(b) the royalty imposed under the Royalty Act on
that unincorporated body in respect of all mineral resources transferred by that unincorporated body, while the member was a member of that unincorporated body.
(5) If—
(a) an unincorporated body of which the members made
an election mentioned in subsection (1) is dissolved solely as a result of—
(i) the retirement, withdrawal or death of one or more members of that unincorporated body; or
(ii) the admission of a new member to that unincorporated body; and
(b) the new unincorporated body which is brought into being as a result of the dissolution mentioned in paragraph (a) satis es the requirements of subsection (1) (a) and (b),
the election made by the members of the dissolved unincorporated body as mentioned in subsection (1) remains in effect for purposes of the new unincorporated body notwithstanding that dissolution.
(6) All the members of an unincorporated body that made an election mentioned in subsection (1) may at any time elect to terminate the registration of that unincorporated body with effect from the day after the last day of the year of assessment in which that election was made.
[S. 4 substituted by s. 63 (1) of Act 18 of 2009.] [Date of commencement of s. 4: 1 November 2009.]
Part III
Payments and returns (ss 5-8)
5 Payments in respect of estimated royalty
(1) A registered person must submit an estimate of the royalty payable in respect of a year of assessment within six months after the rst day of that year and must make a payment (together with a return for that payment) equal to one-half of the amount of the royalty so estimated.
[Sub-s. (1) substituted by s. 36 (1) of Act 8 of 2010 and by s. 271 of Act 28 of 2011.]
(2) A registered person must submit an estimate of the royalty payable in respect of a year of assessment by the last day of that year and submit a payment (together with a return for that payment) equal to the amount of the
Juta’s IndIrect tax 2016
royalty so estimated less the amount paid as mentioned in subsection (1).
[Sub-s. (2) substituted by s. 271 of Act 28 of 2011.]
6 Submission of return and nal payment
(1) A registered person must submit a return to the Commissioner for the royalty payable in respect of a year of assessment—
(a) in the case of a company as de ned in section 1 of the
Income Tax Act, within 12 months from the date on
which its nancial year ends; or
(b) in the case of any other person, within 12 months
after the last day of that year.
[Sub-s. (1) substituted by s. 28 of Act 39 of 2013 – date of commencement: 16 January 2014.]
(2) If the amount of the royalty mentioned in subsection (1) that is payable in respect of a year of assessment exceeds the sum of the two payments made as mentioned in section 5, that excess must be paid within six months after the last day of that year.
7 ...
8 Maintenance of records
(f)
[S. 7 repealed by s. 271 of Act 28 of 2011.]
(1) In addition to the records required under the Tax Administration Act, a registered person must retain the following records:
[Words in sub-s. (1) preceding para. (a) substituted by s. 271 of Act 28 of 2011.]
(a) particulars of ‘earnings before interest and taxes’ as mentioned in section 5 of the Royalty Act with suf cient detail to identify all the gross sales, income and allowable deductions in respect of those earnings;
(b) particulars of ‘gross sales’ as mentioned in section 6 of the Royalty Act with suf cient detail to identify all transferred mineral resources in respect of those gross sales and the persons acquiring those transferred mineral resources;
(c) the quantity of mineral resources extracted but not transferred and those transferred by that registered person with suf cient detail to identify those extracted and transferred mineral resources;
(d) the accounting income with suf cient detail to identify the ‘earnings before interest and taxes’ as mentioned in section 5 of the Royalty Act that relate to that accounting income;
(e) a ledger, cash book, journal, cheque book, bank statement, deposit slip, paid cheque, invoice, other book of account or nancial statement; and
any information required by the Commissioner.
(2) . . .
[Sub-s. (2) deleted by s. 271 of Act 28 of 2011.]
Part IV Assessments (ss 9-12)
9 Notices of assessment
(1) to (3) inclusive . . .
[Sub-ss. (1) to (3) inclusive deleted by s. 271 of Act 28 of 2011.]
(4) A registered person that receives a notice of assessment must pay the amount of the royalty so assessed to the Commissioner within 30 days after the date of issue of that notice of assessment.
(5) . . .
[Sub-s. (5) deleted by s. 271 of Act 28 of 2011.]
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