Page 575 - SAIT Compendium 2016 Volume1

s 1
TAX ADMINISTRATION ACT 28 OF 2011 s 1
nancial reporting standards
participant, in relation to an arrangement pre-tax pro t, in relation to an arrangement promoter, in relation to an arrangement reportable arrangement
tax bene t
Sections 75 to 90 (Chapter 7)
advance ruling applicant
application
binding class ruling binding effect
binding general ruling binding private ruling class
class member and class members non-binding private opinion proposed transaction
transaction
Sections 101 to 150 (Chapter 9)
appellant, (except in Part E of Chapter 9) decision
registrar
rules
Sections 142 to 150 (Part F of Chapter 9)
dispute
settle and settlement
Sections 192 to 207 (Chapter 14)
Companies Act compromise debtor
write off
Sections 208 to 220 (Chapter 15)
administrative non-compliance penalty or penalty rst incidence
penalty assessment
preceding year
remittance request
Sections 221 to 233 (Chapter 16)
repeat case
substantial understatement tax
tax position understatement
Sections 225 to 233 (Part B of Chapter 16)
default
Sections 239 to 243 (Chapter 18)
controlling body
recognised controlling body
1 De nitions*
CHAPTER 1 DEFINITIONS (s. 1)
the meaning so assigned, and the following terms have the following meaning:
“additional assessment” is an assessment referred to in section 92;
“administration of a tax Act” has the meaning assigned in section 3 (2);
“administrative non-compliance penalty” has the meaning assigned in section 208;
“assessment” means the determination of the amount of a tax liability or refund, by way of self-assessment by the taxpayer or assessment by SARS;
“asset” includes—
(a) property of whatever nature, whether movable or
immovable, corporeal or incorporeal; and
(b) a right or interest of whatever nature to or in the
property;
[De nition of ‘asset’ inserted by s. 36 (a) of Act 21 of 2012 – date of commencement deemed to have been 1 October 2012.]
“biometric information” means biological data used to authenticate the identity of a natural person by means of— (a) facial recognition;
(b) ngerprint recognition;
(c) voice recognition;
(d) iris or retina recognition; and
(e) other, less intrusive biological data, as may be
prescribed by the Minister in a regulation issued
under section 257;
“business day” means a day which is not a Saturday,
Sunday or public holiday, and for purposes of determining the days or a period allowed for complying with the provisions of Chapter 9, excludes the days between 16 December of each year and 15 January of the following year, both days inclusive;
“Commissioner” means the Commissioner for the South African Revenue Service appointed in terms of section 6 of the SARS Act or the Acting Commissioner designated in terms of section 7 of that Act;
“company” has the meaning assigned in section 1 of the Income Tax Act;
“connected person” means a connected person as de ned in section 1 of the Income Tax Act;
“customs and excise legislation” means the Customs and Excise Act, 1964 (Act 91 of 1964), the Customs Duty Act, 2014 (Act 30 of 2014), or the Customs Control Act, 2014 (Act 31 of 2014);
[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.]
“date of assessment” means—
(a) in the case of an assessment by SARS, the date of the
issue of the notice of assessment; or
(b) in the case of self-assessment by the taxpayer—
(i) if a return is required, the date that the return is submitted; or
In this Act, unless the context indicates otherwise, a term which is assigned a meaning in another tax Act has
* (i) The de nitions applying to the whole Act are written in double quotation marks (ss. 1, 3, 151, 153, 156 and 158) and quotation marks are not used when those de ned words are used in the text of the Act.
(ii) The de nitions applying only to a speci c section, Part or Chapter are, however, written in single quotation marks. Where those de ned words appear in the text of the Act, they are also written in single quotation marks.
SAIT CompendIum oF TAx LegISLATIon VoLume 1 567
Prelex
Wording of de nition of “Customs and Excise Act” in force until promulgation of Tax Administration Laws Amendment Act, 2015
“Customs and Excise Act” means the Customs and Excise Act, 1964 (Act 91 of 1964);
TAX ADMINISTRATION ACT