Page 7 - Juta's Indirect Tax

Juta Law Editors’ Note
Juta’s Indirect Tax 2016 is a consolidated source of all current and pending indirect tax Acts. In addition, it includes supplementary material in respect of such indirect tax Acts, as published on the SARS website. This is the rst edition of this book and it builds on the Juta publication, the SAIT Compendium of Tax Legislation, which is held in high esteem by tax practitioners and other professionals in the tax eld. Every year there is a concerted effort to add further value to that publication, which has thus far been received and hailed as very useful, practitioner-friendly and innovative. This new publication, Juta’s Indirect Tax, will be issued annually in January.
All amendments to legislation in terms of the Taxation Laws Amendment Bill 29B of 2015, the Tax Administration Laws Amendment Bill 30 of 2015 and the Rates and Monetary Amounts and Amendment of Revenue Laws Act 13 of 2015 are incorporated in Juta’s Indirect Tax. As at 10 December 2015, the rst-mentioned two bills had not yet been assented to and signed by the President and promulgated in the Government Gazette. They were only passed in the National Council of Provinces on Tuesday, 1 December 2015. References in the publication are to ‘Taxation Laws Amendment Act, 2015’ and ‘Tax Administration Laws Amendment Act, 2015’ in the annotations and ‘prelex’ and ‘pendlex’ text. There is therefore an assumption that the Bills will be assented to and signed by the President and promulgated in the Gazette as Acts. There are also references to eg ‘the date of promulgation of Tax Administration Laws Amendment Act, 2015’, a date that is not yet known at the time of the signing off of Juta’s Indirect Tax.
This new publication comprises the following pieces of indirect tax legislation:
• Value-Added Tax Act • Tax Administration Act • Securities Transfer Tax Act • Securities Transfer Tax Administration Act • Skills Development Levies Act • Transfer Duty Act • Unemployment Insurance Contributions Act • Diamond Export Levy (Administration) Act • Diamond Export Levy Act • Mineral and Petroleum Resources Royalty Act • Mineral and Petroleum Resources Royalty (Administration) Act
Enhancements that have through the years been added to the Compendium that are also found in Juta’s Indirect Tax, include the following:
ƒ Information relating to the commencement date (and additional data supplied in the relevant amending Act or
added by Juta editors for clarification purposes) of each specific provision of the 2015 legislation mentioned above has been added to existing information in annotations:
Example (i)
[Para. (f) added by s. 30 (c) of Act 36 of 2007 and substituted by s. 173 (1) (a) of Act 31 of 2013 (date of commencement: 1 April 2014) and by s. 25 (1) of Tax Administration Laws Amendment Act, 2015 – date of commencement: 1 April 2016; this substitution applies iro tax periods commencing on or after that date.]
Example (ii)
[Sub-s. (4) deleted by s. 175 (1) of Act 31 of 2013 – deletion deemed to have come into operation on 10 January 2012 and applies in respect of goods being xed property supplied on or after that date.]
ƒ In Juta’s Indirect Tax only the provisions of Schedule 1 to the Tax Administration Act that have not yet come into operation have been reproduced. (See also Interpretation Note 68 (Issue 2) in Volume 2 of Juta’s Compendium (also on SARS’ website), which deals with the matter of provisions of the Tax Administration Act that did not commence on 1 October 2012.)
ƒ All amendments to legislation that have come into operation retrospectively or will be in operation by 1 April 2016 form part of the main body (‘current text’) of the Acts. The wording of the relevant ‘prelex’ (wording in force until the date of commencement of the new wording) appears immediately after the new text, printed with a grey shaded background. The prelex is also included in the case of an amendment coming into operation retrospectively with effect from an earlier date, for instance 1 January 2009. Examples of ‘prelex’ and related value-adding features are given below:
Example (i)
(a) The words ‘tax invoice’, ‘VAT invoice’ or ‘invoice’;
[Para. (a) substituted by s. 26 (a) of Tax Administration Laws Amendment Act, 2015 – date of commencement: date of
promulgation of Tax Administration Laws Amendment Act, 2015.]
Example (ii)
[De nition of ‘customs and excise legislation’, previously ‘Customs and Excise Act’, substituted by s. 33 (a) of Tax Administration Laws Amendment Act, 2015 – date of commencement: date of promulgation of Tax Administration Laws Amendment Act, 2015.]
Prelex
Wording of para. (a) in force until promulgation of Tax Administration Laws Amendment Act, 2015 (a) The words ‘tax invoice’ in a prominent place;
Juta’s IndIrect tax 2016
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