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Taxation Laws Amendment Act, No. 30 of 1998

Long title


To amend the Marketable Securities Tax Act, 1948, so as to withdraw an exemption; to further regulate the payment of penalties; to make provision for the payment of interest; to further regulate the making of refunds; to effect certain textual amendments; and to provide for the publication of names of offenders; to amend the Transfer Duty Act, 1949, so as to further regulate the payment of transfer duty; to effect certain textual amendments; to further regulate the making of refunds; and to provide for the publication of names of offenders; to amend the Estate Duty Act, 1955, so as to further regulate the payment of estate duty; to effect certain textual amendments; and to provide for the publication of names of offenders; to amend the Income Tax Act, 1962, so as to fix the rates of normal tax payable by persons other than companies in respect of taxable incomes for the years of assessment ending on 28 February 1999 and 30 June 1999, and by companies in respect of taxable incomes for the years of assessment ending during the period of 12 months ending on 31 March 1999; to further define certain expressions; to make certain decisions of the Commissioner subject to objection and appeal; to adjust the secrecy provisions; to increase certain tax rebates; to further regulate the receipt and accrual of income from certain funds; to further regulate the taxation of allowances or advances in respect of transport expenses; to further regulate the circumstances in which amounts are deemed to have accrued from a source within the Republic; to further regulate the circumstances in which amounts received or accrued in relation to the disposal of listed shares are deemed to be of a capital nature; to further regulate the taxation of investment income from foreign sources; to further regulate the taxation of investment income of controlled foreign entities and investment income arising from donations, settlements or other dispositions; to further regulate the application of certain exemptions; to withdraw certain exemptions and to introduce another; to further regulate certain general deductions allowed in the determination of taxable income; to repeal the deduction in respect of expenses incurred by medical practitioners and dentists on courses or congresses outside the Republic; to deem certain dividends received by or accrued to a shareholder to be income derived otherwise than in the form of dividends; to further regulate the limitation of allowances granted to lessors of certain assets; to further regulate the taxation of gains and losses on foreign exchange transactions; to further regulate the taxation of the income of trusts and beneficiaries of trusts; to further regulate the determination of the taxable income of certain persons in respect of international transactions; to effect certain textual amendments; to introduce an exemption from donations tax; to further regulate the determination of amounts distributed which are deemed to be dividends for purposes of the Secondary Tax on Companies; to further regulate the furnishing of information; to provide for the publication of names of offenders; to delete certain obsolete provisions; to further regulate the making of refunds; to make certain general anti-avoidance provisions also applicable to trusts; to empower the Minister of Finance to make regulations prescribing the contents of certain accounts; to further regulate the computation of gross income derived by way of lump sum benefits from certain pension, provident and retirement annuity funds; to further regulate the deduction or withholding of amounts by employers in respect of normal tax; and to extend the provisions in relation to, and to further regulate, the determination of benefits and advantages derived by reason of employment; to amend the Customs and Excise Act, 1964, so as to further define certain expressions; to adjust the secrecy provisions; to effect certain consequential and textual amendments; to introduce special measures to regulate the payment of duty on marked goods; to further regulate the conclusion of certain international agreements; to regulate the disclosure of information and the rendering of mutual assistance in terms of a convention or agreement; to further regulate the making of refunds; to criminalise certain conduct; to provide for the publication of names of offenders; to further regulate the circumstances in which rewards may be made; to further regulate the liability of an agent for obligations imposed on such agent’s principal; to further regulate the prohibition and restriction on the importation of certain goods; and to provide for the continuation of certain amendments to the Schedules to the Customs and Excise Act, 1964; to amend the Stamp Duties Act, 1968, so as to further define certain expressions; to introduce certain exemptions; to further regulate the payment of stamp duty; to further regulate the making of refunds; to provide for the publication of names of offenders; and to withdraw certain exemptions; to amend the Value-Added Tax Act, 1991, so as to further define certain expressions; to exclude certain activities from the scope of the exemption for financial services; to allow the Commissioner to make certain information regarding vendors known; to limit the application of the zero rate in respect of the supply of services to non-residents; to limit the application of the payments basis of accounting for tax and to introduce a transitional arrangement in that regard; to limit the period during which input tax may be deducted to five years and to introduce a scheme for determining the tax liability; to provide that any basis for apportioning input tax be approved by the Commissioner and that the basis so approved may only be changed from a future tax period; to make further provision in respect of adjustments of input tax; to further regulate the particulars to be reflected on tax invoices; to further regulate the circumstances in which the Commissioner should be advised of a change of status; to provide for certain decisions of the Commissioner to be subject to objection and appeal; to limit the circumstances in which a vendor is protected from the withdrawal of a ruling; to prohibit the backdating of claims for refunds and to further provide for amounts due by vendors to be set off against refunds; to further regulate the determination of the period of 21 days within which a refund must be made; to further regulate the publication of names of offenders; and to effect certain textual amendments; to amend the Income Tax Act, 1993, so as to effect a textual amendment to the unbundling provisions; to amend the Income Tax Act, 1996, so as to effect a textual amendment; and to amend the Tax on Retirement Funds Act, 1996, so as to increase the rate of tax; and to provide for matters connected therewith.

Table of contents

SECTION TITLE
1.  Amendment of section 3 of Act 32 of 1948...
2.  Substitution of section 5 of Act 32 of 1948...
3.  Insertion of section 5A in Act 32 of 1948
4.  Substitution of section 7 of Act 32 of 1948...
5.  Amendment of section 9 of Act 32 of 1948...
6.  Amendment of section 9D of Act 32 of 1948...
7.  Insertion of section 11 in Act 32 of 1948
8.  Amendment of section 6 of Act 40 of 1949
9.  Amendment of section 11A of Act 40 of 1949...
10.  Amendment of section 11E of Act 40 of 1949...
11.  Substitution of section 20 of Act 40 of 1949
12.  Insertion of section 20A in Act 40 of 1949
13.  Amendment of section 3 of Act 45 of 1955...
14.  Amendment of section 4 of Act 45 of 1955...
15.  Amendment of section 8A of Act 45 of 1955...
16.  Amendment of section 8E of Act 45 of 1955...
17.  Insertion of section 28A in Act 45 of 1955
18.  Fixing of rates of normal tax in terms of Act 58 of 1962
19.  Amendment of section 1 of Act 58 of 1962...
20. Amendment of section 3 of Act 58 of 1962...
21.  Amendment of section 4 of Act 58 of 1962...
22.  Amendment of section 6 of Act 58 of 1962...
23.  Amendment of section 7 of Act 58 of 1962...
24.  Amendment of section 8 of Act 58 of 1962...
25.  Amendment of section 9 of Act 58 of 1962...
26.  Amendment of section 9B of Act 58 of 1962...
27.  Amendment of section 9C of Act 58 of 1962...
28.  Amendment of section 9D of Act 58 of 1962...
29. Amendment of section 10 of Act 58 of 1962...
30. Amendment of section 11 of Act 58 of 1962...
31. Amendment of section 11sex of Act 58 of 1962...
32. Repeal of section 16A of Act 58 of 1962...
33. Amendment of section 19 of Act 58 of 1962...
34. Amendment of section 23A of Act 58 of 1962...
35. Amendment of section 24I of Act 58 of 1962...
36. Amendment of section 25B of Act 58 of 1962...
37. Amendment of section 31 of Act 58 of 1962...
38. Amendment of section 37H of Act 58 of 1962...
39. Amendment of section 56 of Act 58 of 1962...
40. Amendment of section 64C of Act 58 of 1962...
41. Amendment of section 69 of Act 58 of 1962
42. Insertion of section 75A in Act 58 of 1962
43. Amendment of section 90 of Act 58 of 1962...
44. Amendment of section 102 of Act 58 of 1962...
45. Amendment of section 103 of Act 58 of 1962...
46. Amendment of section 107 of Act 58 of 1962...
47. Amendment of paragraph 1 of Second Schedule to Act 58 of 1962...
48. Substitution of paragraph 2 of Second Schedule to Act 58 of 1962...
49. Amendment of paragraph 2A of Second Schedule to Act 58 of 1962...
50. Substitution of paragraph 3 of Second Schedule to Act 58 of 1962...
51. Amendment of paragraph 6 of Second Schedule to Act 58 of 1962...
52. Amendment of paragraph 1 of Fourth Schedule to Act 58 of 1962...
53. Amendment of paragraph 11B of Fourth Schedule to Act 58 of 1962...
54. Amendment of paragraph 2 of Seventh Schedule to Act 58 of 1962...
55. Amendment of paragraph 9 of Seventh Schedule to Act 58 of 1962...
56. Insertion of paragraph 12A in Seventh Schedule to Act 58 of 1962
57. Amendment of section 1 of Act 91 of 1964...
58. Amendment of section 4 of Act 91 of 1964...
59. Amendment of section 20 of Act 91 of 1964...
60. Amendment of section 34 of Act 91 of 1964...
61. Amendment of section 37 of Act 91 of 1964...
62. Insertion of section 37A in Act 91 of 1964
63. Amendment of section 47 of Act 91 of 1964...
64. Amendment of section 48 of Act 91 of 1964...
65. Substitution of section 49 of Act 91 of 1964...
66. Insertion of section 50 in Act 91 of 1964
67. Insertion of sections 76B and 76C in Act 91 of 1964
68. Amendment of section 80 of Act 91 of 1964...
69. Insertion of section 86A in Act 91 of 1964
70. Amendment of section 92 of Act 91 of 1964...
71. Amendment of section 99 of Act 91 of 1964...
72. Amendment of section 105 of Act 91 of 1964...
73. Amendment of section 113 of Act 91 of 1964...
74. Amendment of section 120 of Act 91 of 1964...
75. Amendment of Schedule No. 1 to Act 91 of 1964...
76. Continuation of certain amendments of Schedules Nos. 1 to 6 to Act 91 of 1964
77. Amendment of section 1 of Act 77 of 1968...
78. Amendment of section 4 of Act 77 of 1968...
79. Amendment of section 5 of Act 77 of 1968...
80. Amendment of section 23 of Act 77 of 1968...
81. Amendment of section 31 of Act 77 of 1968...
82. Amendment of section 31 of Act 77 of 1968...
83. Amendment of section 32 of Act 77 of 1968
84. Insertion of section 32A in Act 77 of 1968
85. Amendment of Item 13 of Schedule 1 to Act 77 of 1968...
86. Amendment of Item 15 of Schedule 1 to Act 77 of 1968...
87. Amendment of section 2 of Act 89 of 1991...
88. Amendment of section 6 of Act 89 of 1991...
89. Amendment of section 11 of Act 89 of 1991...
90. Amendment of section 15 of Act 89 of 1991...
91. Amendment of section 16 of Act 89 of 1991...
92. Amendment of section 17 of Act 89 of 1991..
93. Amendment of section 18 of Act 89 of 1991...
94. Amendment of section 20 of Act 89 of 1991...
95. Amendment of section 22 of Act 89 of 1991...
96. Amendment of section 25 of Act 89 of 1991
97. Amendment of section 32 of Act 89 of 1991...
98. Amendment of section 41 of Act 89 of 1991...
99. Amendment of section 43 of Act 89 of 1991
100. Amendment of section 44 of Act 89 of 1991...
101. Amendment of section 45 of Act 89 of 1991...
102. Amendment of section 55 of Act 89 of 1991...
103. Amendment of section 62 of Act 89 of 1991
104. Amendment of Schedule 2 to Act 89 of 1991...
105. Amendment of section 60 of Act 113 of 1993...
106. Amendment of section 8 of Act 36 of 1996...
107. Amendment of section 2 of Act 38 of 1996
108. Short title and commencement
Sch. 1. SCHEDULE 1. RATES OF NORMAL TAX PAYABLE BY PERSONS (OTHER THAN COMPANIES) IN RESPECT OF THE YEARS OF ASSESSMENT ENDING 28 FEBRUARY 1999 AND 30 JUNE 1999, AND BY COMPANIES IN RESPECT OF YEARS OF ASSESSMENT ENDING DURING THE PERIOD OF 12 MONTHS ENDING 31 MARCH 1999 (SECTION 18)
Sch. 2. SCHEDULE 2. AMENDMENTS TO SCHEDULE NO. 1 TO THE CUSTOMS AND EXCISE ACT, 1964 (SECTION 75)

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