Page 266 - Juta's Indirect Tax

s 10–12 MINERAL AND PETROLEUM RESOURCES ROYALTY (ADMINISTRATION) ACT 29 OF 2008 s 18
10 to 12 inclusive . . .
[Ss. 10-12 inclusive repealed by s. 271 of Act 28 of 2011.]
Part V
Refunds, penalty and interest (ss 13-16)
in respect of that estimate is required to be paid in terms of section 5.
16 Interest
(1) The Commissioner must pay interest calculated on a monthly basis in respect of an amount or royalty paid to the extent that that amount exceeds—
13 . . .
14 Penalty for underestimation of royalty payable
(1) If the royalty mentioned in section 6 (1) in respect of a year of assessment exceeds the amount paid as mentioned in section 5 in respect of that year and that excess is greater than 20 per cent of the royalty mentioned in section 6 (1), the Commissioner may impose a penalty, which is regarded as a percentage based penalty imposed under Chapter 15 of the Tax Administration Act, that may not exceed 20 per cent of that excess.
[Sub-s. (1) substituted by s. 37 (1) of Act 8 of 2010 and by s. 32 (a) of Tax Administration Laws Amendment Act, 2015 – date of commencement: date of promulgation of Tax Administration Laws Amendment Act, 2015.]
(2) A penalty imposed as mentioned in subsection (1) is payable within 30 days from the date on which it was imposed.
(3) Where the Commissioner is satis ed that the estimates of the royalty payable and the amounts paid as mentioned in section 5 were seriously calculated with due regard to the factors having a bearing thereon and were not deliberately or negligently understated, or if the Commissioner is partly so satis ed, the Commissioner may remit the penalty mentioned in subsection (1) or a part thereof.
[Sub-s. (3) added by s. 32 (b) of Tax Administration Laws Amendment Act, 2015 – date of commencement: date of promulgation of Tax Administration Laws Amendment Act, 2015.]
15 Adjustments of estimated royalty
(1) The Commissioner may require a registered person to justify any estimated amount paid by that person as mentioned in section 5 or to furnish particulars in respect of that amount and, if the Commissioner is dissatis ed with that amount, the Commissioner may substitute an estimate of an increased amount in lieu of the estimated amount paid as mentioned in section 5 to the extent that the Commissioner considers reasonable.
(2) If a registered person fails to submit any estimated amount as required by section 5, the Commissioner may estimate that amount.
(3) Any estimate made by the Commissioner under subsection (1) or (2) is deemed to take effect in respect of the year of assessment within which the estimated amount
(a) (b)
in the case where that amount was paid in respect of a notice of assessment, the amount so assessed; or
in any other case, the amount of royalty properly chargeable under the Royalty Act, if that excess is not refunded within 30 days after the later of—
(i) the date which is six months after the last day of a year of assessment in respect of which the royalty giving rise to that excess is required to be paid as mentioned in section 6; or
(ii) the date of receipt of a refund claim mentioned in section 13 in respect of that excess.
[S. 13 repealed by s. 271 of Act 28 of 2011.]
(2) A registered person must pay interest calculated on a monthly basis—
(a) in respect of so much of the estimated amount that
must be paid as mentioned in section 5 (1) as is not paid on the day by which that payment was required to be made in respect of the six months after the rst day that that estimated payment is due;
(b) in respect of so much of the estimated amount that must be paid as mentioned in section 5 (2) as is not paid on the day by which that payment was required to be made in respect of the six months after the rst day that that estimated payment is due; or
(c) in respect of so much of the amount that must be paid as mentioned in section 6 as is not paid on the day by which that payment was required to be made in respect of any period after the rst day that that payment is due.
(3) Interest required under this section must be calculated at the rate mentioned in paragraph (b) of the de nition of ‘prescribed rate’ in section 1 of the Income Tax Act.
Part VI Miscellaneous (ss 17-21)
17 Administration of Act
(1) The Commissioner is responsible for administering this Act and the Royalty Act, in accordance with the provisions of the Tax Administration Act.
[Sub-s. (1) substituted by s. 271 of Act 28 of 2011.]
(2) 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.
[Sub-s. (2) substituted by s. 271 of Act 28 of 2011.] [Date of commencement of s. 17: 1 November 2009.]
18 . . .
[S. 18 repealed by s. 271 of Act 28 of 2011.]
* 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
Prelex
Wording of sub-s. (1) in force until promulgation of Tax Administration Laws Amendment Act, 2015
(1) If the royalty mentioned in section 6 (1) in respect of a year of assessment exceeds the amount paid as mentioned in section 5 in respect of that year and that excess is greater than 20 per cent of the royalty mentioned in section 6 (1), the Commissioner may impose a penalty that may not exceed 20 per cent of that excess.
Pendlex
[NB: S. 16 has been repealed by s. 271 of Act 28 of 2011, a provision which will be put into operation by proclamation.]*
258 Juta’s IndIrect tax 2016