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By Legalish, Oct 13 2014 06:14PM

To amend the Marketable Securities Tax Act, 1948, so as to take into account the consequential amendments as a result of the amendment to the corporate restructuring rules; to amend the Transfer Duty Act, 1949, so as to amend certain definitions to ensure that the acquisition of a contingent right in a trust and the acquisition of shares in certain companies are subject to transfer duty; p troo vide that the person disposing of the contingent right or shares in the company and the trustee and public officer of the company shall be jointly and severably liable for the duty: and to provide for consequential amendments as a result of the amendments to the corporate restructuring rulesi n the Income Tax Act, 1962; to amend the Estate DuAtyc t, 1955, so as tod elete certain words in section 4 that have unintended consequences; to amend the Income Tax Act, 1962, so as to insert certain definitions; to amend certain definitions; to effect certain amendments in consequence of the introductiono f the Collective Investment Schemes ControAl ct, 2002; to ensure that certaidni scretionary powers of the Commissioner are subject to objection and appeal; to further regulate the provisions relating to secrecy; to further regulate the provisions relating to a credit against normal otaf xta xes paid to the governmento f a foreign country; to furthere gulate the provisions relating to allowances and advances paid to an employee by his or her employer and to provide specific guidance on the deemed daily expenses in respect of meals and incidental costs: to further regulate the provisions that deem certain income to be from a sourcein the Republic: tom ove the provisions relating to funds thamt ay as a result of the currency or other restrictions of a foreign country not be remitted to the Republic into a separate section; to further regulate the provisions relating to controlled foreign companies; tof urther regulate the taxation of foreign dividends; to further regulate the taxation for foreign equity instruments; to delete an exemption which is already provided for elsewhere; to further regulate the exemption of remuneration earnedo ffshore where a personis outside the Republic for a specific period: to withdraw an exemption granted in respect of an entity which has ceased its operations; to repeal provisions relating to marketing expenditure for exporters which is no longer in use; to further regulate the strategic investment incentive provisions: to address an anomaly in section 22(8) which resulted in capital assets now becoming trading stock and to avoid potential double taxation; to insert certain definitions in the provisions relating to the taxation of film owners; to further regulate the taxation of gains and losses on foreign exchange transactions: to further regulate the determination of taxable income in foreign currency; to provide that ftihnea l withholding tax shall not apply in respect of royalties paid to any controlled foreign company; to effect certain consequential amendments resulting from the changes to the residence basis of taxation; to further regulate the provisions relating to company formations, share-for-share transactions, amalgamation transactions, intra-group transactions, unbundling transactions and liquidation distributions; to further regulate the provisions relating to secondary tax on companies and the provisions deeming certain distributions to be dividends; to provide for certain consequential amendments that arose after the amendment to the tax period for farmers, fishers and diamond diggers; to effect certain changes to the provisions relating to the submission of annual income tax returns; to further regulate the provisions relating to record keeping to ensure that the Commissioner may prescribe the electronic form in which such records may be retained; to extend the record keeping provisions to apply to all persons who are required to render a return and to extend the period to five years to align the record keeping provisions; to extend the period of imprisonment for certain offences committed in terms of the Income Tax Act, 1962; to clarify the provisions relating to estimated assessments where foreign funds are held or assets are held offshore which have not been declared or accounted for; to insert a new section to make provision for the withdrawal of assessments; to clarify the provisions relating to the jurisdiction of the courts; to amend a definition to ensure that certain allowances will not form part of Standard Income Tax on Employees; to exclude from tax allowances, benefits and privileges of a person stationed outside the Republic and employed by the national or provincial public entity substantially funded by Parliament where the benefits and privileges are attributable to the official’s services rendered outside the Republic; to provide for certain amendments to the capital gains tax provisions contained in the Eighth Schedule and certain consequential amendments as a result of these amendments; to amend the Customs and Excise Act, 1964, so as to amend provisions relating to the entry and removal of goods in bond; to insert provisions relating to the manufacture, storage, disposal and use of biofuel; to include the convention on the Harmonised Commodity Description and Coding System as one of the instruments to which the interpretation of Part 1 of Schedule 1 shall be subject, to extend the scope of section 50 by including other non-customs and excise related conventions and agreements in respect of which the Commissioner may disclose information which may be in international, regional or national public interest, to provide for the establishment of joint land border posts and the mutual administration thereof by the Commissioner and the customs authority of the adjoining state, to provide for the circumstances where various licensees obtain goods from manufacturing warehouses in addition to the existing procedure for such a procedure in respect of storage warehouses, to provide for the licensing of certain distributors of fuel who are not also licensed manufacturers, to provide for the circumstance where an applicant for a refund of duty is unable to prove payment of duty; to restate and amend in respect of agents provisions relating to the liability and termination of liability; to link the fixing of the rate at which interest may be charged to the determination of the rate by the Minister of Finance; to amend the provisions relating to a lien in respect of a debt due to the State; provide for a lien on the right, title and interest of a customs debtor in anything subject to a lien which is the subject of a Credit Agreement and matters with regard to the filing of any statement with the clerk or registrar of a competent court for the recovery of such debt; to amend the Stamp Duties Act, 1968, so as to provide for certain consequential amendments as a result of the amendments to the corporate restructuring rules in the Income Tax Act, 1962; to amend the Value-Added Tax Act, 1991, so as to introduce provisions relating to the electronic signature on documents, to provide that section 105 applies in addition to the jurisdiction provisions contained in other legislation, to re-introduce an exemption from VAT in respect of goods at which a flat rate of customs duty is levied in lieu of VAT and specific customs duties; to amend the Uncertificated Securities Tax Act, 1998, so as to provide for certain consequential amendments as a result of the amendment to the corporate reorganisation rules in the Income Tax Act, 1962; to amend the Skills Development Levies Act, 1999, so as to provide that interest must 4 only be calculated from the day following the last day for payment; and to clarify the provisions relating to jurisdiction of the courts; to amend the Revenue Laws Amendment Act, 2000, so as to clarify the date of commencement of section 4 of that Act; to amend the Taxation Laws Amendment Act, 2001, so as to provide for the date of commencement of section 3 to be retroactive; to amend the Revenue Laws Amendment Act, 2001, so as to provide correct an error in the Afrikaans text; to amend the Second Revenue Laws Amendment Act, 2001, so as to provide for the alignment of section 134 with section 71(1) of the Taxation Laws Amendment Act, 2001; to provide for the short title and commencement of the Act; to effect certain textual and consequential changes; and to provide for matters connected therewith.


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By Legalish, Oct 13 2014 06:10PM

To amend the Administrative Adjudication of Road Traffic Offences Act, 1998, so as to regulate the composition of the board; to further regulate the appointment of sheriffs; to prescribe an extended period for payment of infringement fines and matters related thereto; and to effect textual corrections; and to provide for matters connected therewith.


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By Legalish, Oct 13 2014 06:09PM

To establish the International Trade Administration Commission; to provide for the functions of the Commission and for the regulation of its procedures; to provide for the implementation of certain aspects of the Southern African Customs Union (SACU) Agreement in the Republic; to provide, within the framework of the SACU Agreement, for continued control of import and export of goods and amendment of customs duties; and to provide for matters connected therewith.


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By Legalish, Oct 13 2014 06:09PM

To establish the International Trade Administration Commission; to provide for the functions of the Commission and for the regulation of its procedures; to provide for the implementation of certain aspects of the Southern African Customs Union (SACU) Agreement in the Republic; to provide, within the framework of the SACU Agreement, for continued control of import and export of goods and amendment of customs duties; and to provide for matters connected therewith.


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By Legalish, Oct 13 2014 06:09PM

To establish the International Trade Administration Commission; to provide for the functions of the Commission and for the regulation of its procedures; to provide for the implementation of certain aspects of the Southern African Customs Union (SACU) Agreement in the Republic; to provide, within the framework of the SACU Agreement, for continued control of import and export of goods and amendment of customs duties; and to provide for matters connected therewith.


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By Legalish, Oct 13 2014 06:08PM

To regulate the interception of certain communications, the monitoring of certain signals and radio frequency spectrums and the provision of certain communication-related information; to regulate the making of applications for, and the issuing of, directions authorising the interception of communications and the provision of communication- related information under certain circumstances; to regulate the execution of directions and entry warrants by law enforcement officers and the assistance to be given by postal service providers, telecommunication service providers and decryption key holders in the execution of such directions and entry warrants; to prohibit the provision of telecommunication services which do not have the capability to be intercepted; to provide for certain costs to be borne by certain telecommunication service providers; to provide for the establishment of interception centres, the Office for Interception Centres and the Internet Service Providers Assistance Fund; to prohibit the manufacturing, assembling, possessing, selling, purchasing or advertising of certain equipment; to create offences and to prescribe penalties for such offences; and to provide for matters connected therewith.


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