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Second Revenue Laws Amendment Act 34 of 2004

By Legalish, Oct 14 2014 12:41AM

To amend the Transfer Duty Act, 1949, so as to prescribe further requirements for the estate agent in respect of the declaration to be furnished; to provide for a penalty where the estate agent fails to comply with the reporting requirements; to introduce provisions to deal with offences in respect of the evasion of duty; and to regulate the provisions relating to the publication of names of offenders and reporting of unprofessional conduct; to amend the Income Tax Act, 1962, so as to further regulate the provision which prescribes the notice to be issued by the Commissioner requiring returns for assessment of tax and the manner of furnishing returns; to make provision that a taxpayer must inform the Commis- sioner of any change of the taxpayer’s address; to make provision for the registration of tax practitioners; to further regulate the duty of certain persons to furnish returns; to provide that it shall be an offence where a taxpayer fails to inform the Commissioner of any change in address or where a tax practitioner fails to register; to make provision for advance tax rulings; to further regulate the provisions relating to additional assessments; to further regulate the provisions relating to objection and appeal; and to make provision that any decision by the Commissioner not to remit certain penalties shall be subject to objection and appeal; to amend the Customs and Excise Act, 1964, so as to further regulate provisions relating to declarations by persons entering or leaving the Republic; to make provision for the storage of goods free of duty in a customs and excise warehouse; to provide for the payment of salvage from the proceeds of sale of uncleared goods; to further regulate provisions relating to international agree- ments requiring customs administration; to make provision for certain consequen- tial changes arising from the provisions of the International Trade Administration Act, 2002; to amend obsolete references to “department”; to further regulate the limitation on refund and drawback claims; to effect textual amendments to the provisions relating to the institution of legal proceedings; to further regulate the provisions relating to electronic communication; to further regulate the provisions relating to wreck; to amend the Stamp Duties Act, 1968, so as to introduce provisions to deal with offences in respect of duty relating to marketable securities; to amend the Value-Added Tax Act, 1991, so as to make provision for a change in use adjustments; and to provide for advance tax rulings; to amend the Uncertificated Securities Tax Act, 1998, so as to provide for advance tax rulings; and to provide for a short title and commencement date; and to provide for matters relating thereto.


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