Page 583 - SAIT Compendium 2016 Volume1

s 26
(b) (c)
TAX ADMINISTRATION ACT 28 OF 2011 s 31
be a full and true return; and
for purposes of providing the information required in the return, comply with the due diligence requirements as may be prescribed in a tax Act, an international tax agreement, an international tax standard or by the Commissioner in a public notice consistent with the international tax agreement or the international tax standard.
(a) the extent of the other person’s examination of the books of account and of the documents from which the books of account were written up; and
(b) whether or not the entries in those books and documents disclose the true nature of the transactions, receipts, accruals, payments or debits in so far as may be ascertained by that examination.
(2) A person who prepares nancial statements or accounts for another person must, at the request of that other person, submit to that other person a copy of the certi cate or statement referred to in subsection (1).
29 Duty to keep records
(1) A person must keep the records, books of account or documents that—
(a) enable the person to observe the requirements of a tax
Act;
(b) are speci cally required under a tax Act or by the
Commissioner by public notice;* and
[Para. (b) substituted by s. 43 (a) of Act 21 of 2012 – date of commencement deemed to have been 1 October 2012.]
(c) enable SARS to be satis ed that the person has observed these requirements.
(2) The requirements of this Act to keep records, books of account or documents for a tax period apply to a person who—
[Words in sub-s. (2) preceding para. (a) substituted by s. 43 (b) of Act 21 of 2012 – date of commencement deemed to have been 1 October 2012.]
[Para. (c) substituted by s. 38 (a) of Tax Administration Laws Amendment Act, 2015 – date of commencement: date of promulgation of Tax Administration Laws Amendment Act, 2015.]
[Sub-s. (2) substituted by s. 39 of Act 44 of 2014 – date of commencement deemed to have been 1 October 2012.]
(3) The Commissioner may, by public notice, require a person to apply to register as a person required to submit a return under this section, an international tax agreement or an international tax standard.
[Sub-s. (3) added by s. 38 (b) of Tax Administration Laws Amendment Act, 2015 – date of commencement: date of promulgation of Tax Administration Laws Amendment Act, 2015.]
(4) If, in order to submit a return under subsection (1) and to comply with the requirements of this section, a person requires information, a document or thing from another person, the other person must provide the information, document or thing so required within a reasonable time.
[Sub-s. (4) added by s. 38 (b) of Tax Administration Laws Amendment Act, 2015 – date of commencement: date of promulgation of Tax Administration Laws Amendment Act, 2015.]
[S. 26 substituted by s. 41 of Act 21 of 2012 – date of commencement deemed to have been 1 October 2012.]
27 Other returns required
(1) A senior SARS of cial may require a person to submit further or more detailed returns regarding any matter for which a return under section 25 or 26 is required or prescribed by a tax Act.
(2) A person required under subsection (1) to submit a return must do so in the prescribed form and manner and the return must contain the information prescribed by the of cial and must be a full and true return.
[S. 27 substituted by s. 42 of Act 21 of 2012 (date of commencement deemed to have been 1 October 2012) and by s. 36 of Act 39 of 2013 – date of commencement deemed to have been 1 October 2012.]
28 Statement concerning accounts
(1) SARS may require a person who submits nancial statements or accounts prepared by another person in support of that person’s submitted return, to submit a certi cate or statement by the other person setting out the details of—
* See GN 508 in GG 37778 of 27 June 2014.
† See GN 787 in GG 35733 of 1 October 2012.
(a) (b)
(c)
has submitted a return for the tax period;
is required to submit a return for the tax period and has not submitted a return for the tax period; or
is not required to submit a return but has, during the tax period, received income, has a capital gain or capital loss, or engaged in any other activity that is subject to tax or would be subject to tax but for the application of a threshold or exemption.
Prelex
Wording of para. (c) in force until promulgation of Tax Administration Laws Amendment Act, 2015
(c) for purposes of providing the information required
in the return, comply with the due diligence requirements as may be prescribed in a tax Act, an international tax agreement or by the Commissioner in the public notice consistent with an international standard for exchange of information.
(3) Records, books of account or documents need not be retained by the person described in—
[Words in sub-s. (3) preceding para. (a) substituted by s. 43 (c) of Act 21 of 2012 – date of commencement deemed to have been 1 October 2012.]
(a) subsection (2) (a), after a period of ve years from the date of the submission of the return; and
(b) subsection (2) (c), after a period of ve years from the end of the relevant tax period.
30 Form of records kept or retained
(1) The records, books of account, and documents referred to in section 29, must be kept or retained—
(a) in their original form in an orderly fashion and in a
safe place;
(b) in the form, including electronic form,† as may be
prescribed by the Commissioner in a public notice;
or
(c) in a form speci cally authorised by a senior SARS
of cial in terms of subsection (2).
(2) A senior SARS of cial may, subject to the conditions
as the of cial may determine, authorise the retention of information contained in records, books of account or documents referred to in section 29 in a form acceptable to the of cial.
31 Inspection of records
The records, books of account and documents referred to in section 29 whether in the form referred to in section
SAIT CompendIum oF TAx LegISLATIon VoLume 1 575
TAX ADMINISTRATION ACT