Page 43 - SAIT Compendium 2016 Volume2

Approval of entity INCOME TAX ACT: REGULATIONS ANd NOTICES Daily amounts: Meals
(iv) the entity is and will not knowingly become a party to, and does not and will not knowingly permit itself to be used as part of, an impermissible avoidance arrangement contemplated in Part IIA of Chapter III of the Income Tax Act, 1962, or a transaction, operation or scheme as contemplated in section 103 (5) of that Act.
3 Exceptions
The requirements contained in regulation 2 (b) (iii), (v) and (x) do not apply in respect of a mutual loan association.
4 Non-compliance
Where the constitution or written instrument of an entity does not comply with paragraph 2 (b) of these Regulations, the Commissioner may deem it to so comply if the persons who have accepted duciary responsibility for the funds and assets of that entity furnish the Commissioner with a written undertaking that the entity will be administered in compliance with that paragraph.
MANNER OF SUBMISSION OF CERTAIN RETURNS AND PAYMENTS OF EMPLOYEES’ TAX PRESCRIBED IN TERMS OF SECTION 65 OF THE ACT Promulgated under
GN 1118 in GG 33811 of 29 November 2010
[with effect from 1 February 2011]
In terms of section 65 of the Income Tax Act, 1962 (Act 58 of 1962), I, George Ngakane Virgil Magashula, Commissioner for the South African Revenue Service, hereby prescribe that—
(a) no payment by cheque of employees’ tax in excess of R100 000 may be made at a South African Revenue Service
of ce or by post; and
(b) employers that pay or are likely to pay employees’ tax exceeding R10 million in any 12 month period must submit
employees’ tax returns in electronic format and make employees’ tax payments electronically, from 1 February
2011, unless I, having regard to the circumstances, direct otherwise.
G N V MAGASHULA
Commissioner: South African Revenue Service
DETERMINATION OF THE DAILY AMOUNT IN RESPECT OF MEALS AND INCIDENTAL COSTS FOR PURPOSES OF SECTION 8(1) OF THE INCOME TAX ACT, 1962 (ACT 58 OF 1962)
Promulgated under
GN 98 in GG 38476 of 25 February 2015
By virtue of the powers vested in me by section 8(1)(c)(ii) of the Income Tax Act, 1962 (Act 58 of 1962), I, Thomas Swabihi Moyane, Commissioner for the South African Revenue Service, hereby determine in the Schedule hereto the amounts which shall be deemed to have been actually expended by a person in respect of meals and incidental costs for the purposes of section 8(1)(a)(i)(bb) of that Act.
The amounts determined in this notice apply in respect of the year of assessment commencing 1 March 2015.
TS MOYANE
COMMISSIONER FOR THE SOUTH AFRICAN REVENUE SERVICE
SCHEDULE
1. Unless the context otherwise indicates, any word or expression to which a meaning has been assigned in the Income Tax Act, 1962, bears the meaning so assigned.
2. The following amounts will be deemed to have been actually expended by a recipient to whom an allowance or advance has been granted or paid—
(a) where the accommodation, to which that allowance or advance relates, is in the Republic and that allowance or
advance is paid or granted to defray-
(i) Incidental costs only, an amount equal to R109 per day; or
(ii) the cost of meals and incidental costs, an amount equal to R353 per day; or
(b) where the accommodation, to which that allowance or advance relates, is outside the Republic and that allowance
or advance is paid or granted to defray the cost of meals and incidental costs, an amount per day determined in accordance with the following table for the country in which that accommodation is located—
Table: Daily Amount for Travel Outside the Republic
Country
Currency
Amount
Albania
Euro
97
Algeria
Euro
110
Angola
US $
303
Antigua and Barbuda
US $
220
SAIT CompendIum oF TAx LegISLATIon VoLume 2 35