Page 593 - Juta's Indirect Tax

IN 68 (2) TAX ADMINISTRATION ACT: INTERPRETATION NOTES IN 68 (2)
Juta’s IndIrect tax 2016 585
No. Schedule 1 provisions not
Provisions of tax Acts not repealed or amended
Wording of relevant Schedule 1 provisions
Final wording in tax Act after application of Schedule 1 to the Act
Explanatory notes
commenced
16. Para. 128(c) to the extent
Deletion of section 39(2) to the extent related to interest
(c)
by the deletion of subsection (2).
Deletion of section 39(2) must be effected with explanatory note as proposed below.
(2) ...
• As para. 128(b) incorporates into section 39(1) the non-payment of amounts in terms of section 29 of the VAT Act, and subjects the non-payment to both penalty and interest, the deletion of section 39(2) of the VAT Act by para. 128(c) commenced to the extent of the penalty.
related to interest
[Sub-s. (2) ... deleted by para. 128(c)
of Schedule 1 to Act 28 of 2011 and commenced on 1 October 2012 except to the extent related to interest in respect of which the wording prior to the amendment applies: Proclamation 51 in Government Gazette 35687.]
part not properly refundable to the vendor under section 16(5), so much of such amount as was not properly so refundable shall for the purposes of paragraph (a)(i) be deemed to an amount of tax required to be paid by the vendor within the said period and for the purposes of paragraph (a)(ii), an amount of tax required to be paid by the vendor during the period in which the refund was made].”
(3) If any person who is liable for the payment of tax in accordance with the provisions of section 8(2C) or 8(2D) fails to pay any amount of such tax within the period allowed for the payment of such tax in terms of that section, the person shall, in addition to such amount of tax, pay where payment of the said amount of tax is made on or after the rst day of the month following the month during which the period allowed for payment of the tax ended, interest
on the said amount of tax, calculated at the prescribed rate (but subject to the provisions of section 45A) for each month or part of a month in the period reckoned from the said rst day.
• No changes are effected to subsection (3) by Schedule 1 to the Act