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South Africa
NATIONAL LEGISLATION OVERVIEWS
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Second Revenue Laws Amendment Act, No. 60 of 2001

Long title


To amend the Marketable Securities Tax Act, 1918, so as to provide for a further exemption; to effect changes to the Act to give effect to the restructuring of the South African Revenue Service; to provide for objection and appeal procedures where a person is aggrieved by a decision of the Commissioner; to amend the Transfer Duty Act, 1949, so as to effect changes to the Act to give effect to the restructuring of the South African Revenue Service; to provide for a further exemption; to further regulate the objection and appeal procedures where a person is aggrieved by a decision of the Commissioner; to amend the Estate Duty Act, 1955, so as to effect certain consequential amendments to the provisions relating to the determination of the value of property for purposes of the Act; to effect changes to the Act to give effect to the restructuring of the South African Revenue Service; to further regulate the objection and appeal procedures where a person is aggrieved by a decision of the Commissioner; to regulate refunds of amounts of duty not properly chargeable and to provide for the set-off of amounts refundable against any other amount due to the Commissioner; to amend the Income Tax Act, 1962, so as to insert a definition and to amend certain other definitions; to provide that the exercise of certain discretions of the Commissioner shall he subject to objection and appeal; to amend the secrecy provisions to enable the Commissioner to disclose certain information to the Director-General of the National Treasury, the National Commissioner of the South African Police Service and the National Director of Public Prosecutions in certain circumstances; to further regulate the provisions relating to foreign tax credits; to further regulate the provisions relating to the recoupments of amounts which have been allowed as a deduction; to further regulate the provisions relating to controlled foreign entities; to further regulate the provisions relating to foreign dividends; to further regulate the provisions relating to income received by or accrued to residents from a source outside the Republic; to provide for the determination of taxable income in respect of foreign equity instruments; to further regulate the exemption provisions; to further regulate the provisions relating to the scrapping allowance; to further regulate the capital allowance in respect of pipelines, transmission lines and railway lines; to further regulate the additional strategic industrial investment allowance; to provide for a cut-off date for the provisions relating to schemes of arrangements involving trading stock; to further regulate the limitation of the allowances granted to lessors of certain assets; to provide that where for purposes of the Act regard must be had to the market value of an asset, the amount of input tax in the case of a vendor must be excluded from that market value; to further regulate the limitation of certain deductions of expenditure where the benefit in respect of which the expenditure relates extends beyond the year of assessment during which the expenditure is incurred; to provide for a cut-off date for the provisions relating to trans Actions whereby fixed property or company shares are exchanged for shares; to further regulate the provisions relating to gains or losses on foreign exchange trans Actions; to further regulate the provisions relating to the determination of taxable income and losses in foreign currency; to repeal a provision relating to assessments on transfers of business  undertakings by foreign companies to South African subsidiaries; to amend the provisions relating to long-term insurers to provide that the different funds of an insurer shall be deemed to be companies which are connected persons for purposes of certain provisions of the Act; to amend the provisions relating to allowances in respect of capital expenditure of mining assets and the recoupment thereof upon sale, transfer, cession or lease of mining property; to provide for certain consequential amendments; to provide for special rules relating to company formations, share-for-share transactions, intra-group transactions, unbundling transactions and liquidation transactions; to provide for a further exemption from donations tax to effect changes to the Act to give effect to the restructuring of the South African Revenue Service; to further regulate the provisions relating to secondary tax on companies; to further regulate the requirements relating to returns of information by unit portfolios and in respect of financial instruments administered by portfolio administrators; to provide that where a person appointed as an agent of a taxpayer does not comply with certain provisions of the Act, it shall constitute an offence; to further regulate the objection and appeal procedures where a person is aggrieved by an assessment by the Commissioner and matters  elating thereto; to provide that the Minister may promulgate rules prescribing the procedures to be observed in lodging an objection and noting appeal and the conduct and hearing of an appeal before a tax court; to provide that the Minister may by regulation prescribe the circumstances under which the Commissioner may waive a claim against a taxpayer for purposes of the settlement of a dispute and the reporting requirements where a claim is waived; to further regulate the provisions relating to the taxation of lump sum benefits paid by a pension fund where a portion of that benefit must in terms of a divorce order he paid to the former spouse of the member; to further regulate and refine the provisions relating to capital gains tax; to amend the Customs and Excise Act, 1964, so as to insert and amend certain definitions in section 1; to provide that decisions or determinations must be in writing; to further amend provisions relating to the disclosure of information; to make provision for prescribing by rule of wharfs and places where degrouping depots may be established for the handling of imported or exported goods and matters incidental thereto; to further regulate provisions relating to the reporting of cargo; to further provide for the landing of goods before due entry; to further regulate the removal of goods in bond and the export of goods from a customs and excise warehouse; to introduce principles and procedures governing the administration of industrial development zones and matters incidental thereto; to amend a prohibition and a definition relating to marked goods; to further regulate the time of entry for imported goods; to provide for goods imported by air for which immediate clearance is requested; to provide for the disposal of goods on failure to make due entry, goods imported in contravention of any other law and seized and abandoned goods and matters incidental thereto; to amend the provisions determining liability for duty in respect of imported goods and when liability ceases; to further specify principles relating to the interpretation of provisions in the Schedules, the powers of the Commissioner to determine tariff headings, subheadings and items, to make binding tariff determinations and matters incidental thereto; to further provide for the en Acting into law of international agreements under the provisions of the Act; to further provide for the Commissioner's powers to determine the value of imported goods and locally produced goods and matters incidental thereto; to further regulate rebates and refunds of duty and losses in respect of certain goods; to amend procedures relating to claims for goods seized and to prescribe when goods are condemned and forfeited; to further provide for the disposal of seized goods; to introduce new provisions in terms of which the Commissioner may settle or waive claims; to introduce internal administrative appeal procedures and matters incidental thereto; to further provide for procedures governing notice of Actions and the period for bringing  Action; to amend requirements providing for the appointment of agents by a container operator, or a master, pilot or other carrier; to amend provisions relating to the liability of agents to include liability in respect of other carriers; to further regulate the powers of the Commissioner to destroy goods or delay the departure of a ship or vehicle; and to provide for a lien in respect of goods in a customs and excise warehouse; to amend the Stamp Duties Act, 1968, so as to effect changes to the Act to give effect to the restructuring of the South African Revenue Service; to provide for objection and appeal procedures where a person is aggrieved by a decision of the Commissioner; to further regulate the stamp duties on debit entries; to provide for a further exemption; to amend the Value-Added Tax Act, 1991, so as to redefine welfare organisations and further define certain other expressions, to revise the provisions relating to the supply of accommodation, to clarify the exemption in respect of a debt obligation; to provide for the disclosure of certain information to the National Police Commissioner or the National Director of Public Prosecutions; to amend a reference to the Postmaster General to the Managing Director of the South African Post Office Limited, to clarify the position regarding the liability for VAT in the case of the expropriation of property, to clarify the exemption in respect of the rental of dwellings; to amend the provisions relating to exemption in respect of educational services, to regulate the payment of tax on importation in cases where tan has not been paid to a Controller of Customs and Excise, to require that the legal or trading name of a vendor be supplied in a tax invoice for an input tax deduction to be claimable; to provide for a refund in lieu of a refund in respect of the use of diesel in the case of amounts paid to small scale farmers, to regulate the holding of debit or credit notes, tax invoices or statements in the case of agents, to require the issue of a tax invoice in the case of all supplies exceeding R10 000 and impose further requirements in respect of tax invoices, to provide that returns may be submitted electronically up to the last business day of a month, to amend certain provisions relating to objection and appeal, to require that particulars of the banking or similar account of a vendor be submitted, to amend the reference to Receivers of Revenue to SARS offices, to require that reasons be submitted as to why a person appointed as agent is not able to comply with the appointment. to provide that a rental pool scheme operated and managed for the benefit of the owners of sectional title interests or shareholders in a Shareblock Company is regarded as a separate enterprise, to make it an offence to issue a document that purports to be a tax invoice but does not meet certain requirements, to make it an offence to, without lawful cause, fail to comply with a notice of appointment as agent in terms of section 17, to prevent a vendor from stating or implying that any form of discount, including discount in the form of trade or cash discount or a refund is in lieu of VAT, to provide for the rounding off of VAT, to substitute Schedule 1 to the Act which makes provision for exemption on importation; to amend the Income Tax Act, 1993, so as to provide for a cut-off date for the unbundling provisions in consequence of the introduction of the special rules relating to unbundling trans Actions in Part III of Chapter II of the Income Tax Act, 1962; to amend the Taxation Laws Amendment Act, 1994, so as to provide for an exemption from marketable securities tax and uncertificated securities tax in the case of rationalisation schemes and to provide for a cut-off date of the rationalisation provisions in consequence of the introduction of the special rules relating to intra-group transactions in Part III of Chapter II of the Income Tax Act, 1962; to amend the Uncertificated Securities Tax Act, 1998, so as to provide for a further exemption; to effect changes to the Act to give effect to the restructuring of the South African Revenue Service; to provide for objection and appeal procedures where a person is aggrieved by a decision of the Commissioner; to amend the Revenue Laws Amendment Act, 1999, so as to repeal an amendment introduced by that Act; to amend the Taxation Laws Amendment Act, 2001, so as to effect certain textual amendments; to amend the Revenue Laws Amendment Act, 2001, so as to effect certain textual amendments; and to provide for matter connected therewith.

Table of contents

SECTION TITLE
1.  Amendment of section 3 of Act 32 of 1948...
2.  Amendment of section 4 of Act 32 of 1948...
3.  Amendment of section 9 of Act 32 of 1948...
4.  Amendment of section 10 of Act 32 of 1948....
5.  Insertion of section 11A in Act 32 of 1948
6.  Amendment of section 3 of Act 40 of 1949...
7.  Amendment of section 4 of Act 49 of 1949...
8.  Amendment of section 9 of Act 49 of 1949...
9.  Amendment of section 11A of Act 40 of 1949...
10.  Substitution of section 18 of Act 40 of 1949...
11.  Repeal of section 19 of Act 40 of 1949...
12.  Amendment of section 5 of Act 45 of 1955...
13.  Amendment of section 8A of Act 45 of 1955,...
14.  Amendment of section 9A of Act 45 of 1955...
15.  Substitution of section 24 of Act 45 of 1955...
16.  Insertion of section 25A in Act 45 of 1955
17.  Amendment of section 1 of Act 58 of 1962...
18.  Amendment of section 3 of Act 58 of 1962...
19.  Amendment of section 4 of Act 58 of 1962...
20. Amendment of section 6quat of Act 58 of 1962...
21.  Amendment of section 8 of Act 58 of 1962
22.  Amendment of section 9D of Act 58 of 1962...
23.  Amendment of section 9E of Act 58 of 1962...
24.  Amendment of section 9F of Act 58 of 1962....
25.  Insertion of section 9G in Act 58 of 1962
26.  Amendment of section 10 of Act 58 of 1962...
27.  Amendment of section 11 of Act 58 of 1962...
28.  Amendment of section 12D of Act 58 of 1962...
29. Amendment of section 12G of Act 58 of 1962...
30. Amendment of section 13 of Act 58 of 1962...
31. Amendment of section 22A of Act 58 of 1962...
32. Amendment of section 23A of Act 58 of 1962...
33. Amendment of section 23C of Act 58 of 1962...
34. Amendment of section 23H of Act 58 of 1962...
35. Amendment of section 24A of Act 58 of 1962...
36. Amendment of section 24I of Act 58 of 1962..
37. Amendment of section 25D of Act 58 of 1962...
38. Repeal of section 28bis of Act 58 of 1962...
39. Amendment of section 29A of Act 58 of 1962...
40. Amendment of section 33 of Act 58 of 1962...
41. Amendment of section 36 of Act 58 of 1962...
42. Amendment of section 37 of Act 58 of 1962...
43. Amendment of section 38 of Act 58 of 1962...
44. Insertion of Part III in Chapter II of Act 58 of 1962
45. Amendment of section 56 of Act 58 of 1962...
46. Amendment of section 60 of Act 58 of 1962...
47. Substitution of section 63 of Act 58 of 1962...
48. Amendment of section 64B of Act 58 of 1962...
49. Substitution of section 70A of Act 58 of 1962...
50. Amendment of section 70B of Act 58 of 1962...
51. Amendment of section 74 of Act 58 of 1962...
52. Amendment of section 75 of Act 58 of 1962...
53. Amendment of section 81 of Act 58 of 1962...
54. Amendment of section 83 of Act 58 of 1962...
55. Amendment of section 83A of Act 58 of 1962...
56. Amendment of section 84 of Act 58 of 1962...
57. Amendment of section 85 of Act 58 of 1962...
58. Amendment of section 86A of Act 58 of 1962...
59. Substitution of section 87 of Act 58 of 1962...
60. Amendment of section 88 of Act 58 of 1962...
61. Amendment of section 102 of Act 58 of 1962...
62. Amendment of section 107 of Act 58 of 1962...
63. Insertion of sections 107A and 107B in Act 58 of 1962
64. Amendment of paragraph 2B of Second Schedule to Act 58 of 1962...
65. Amendment of paragraph 1 of Eighth Schedule to Act 58 of 1962...
66. Amendment of paragraph 2 of Eighth Schedule to Act 58 of 1962...
67. Amendment of paragraph 3 of Eighth Schedule to Act 58 of 1962...
68. Amendment of paragraph 4 of Eighth Schedule to Act 58 of 1962...
69. Amendment of paragraph 6 of Eighth Schedule to Act 58 of 1962...
70. Amendment of paragraph 7 of Eighth Schedule to Act 58 of 1962...
71. Amendment of paragraph 11 of Eighth Schedule to Act 58 of 1962...
72. Amendment of paragraph 12 of Eighth Schedule to Act 58 of 1962...
73. Amendment of paragraph 15 of Eighth Schedule to Act 58 of 1962...
74. Amendment of paragraph 18 of Eighth Schedule to Act 58 of 1962...
75. Amendment of paragraph 20 of Eighth Schedule to Act 58 of 1962...
76. Amendment of paragraph 24 of Eighth Schedule to Act 58 of 1962...
77. Substitution of paragraph 25 of Eighth Schedule to Act 58 of 1962...
78. Amendment of paragraph 26 of Eighth Schedule to Act 58 of 1962...
79. Substitution of paragraph 27 of Eighth Schedule to Act 58 of 1962...
80. Amendment of paragraph 28 of Eighth Schedule to Act 58 of 1962...
81. Amendment of paragraph 29 of Eighth Schedule to Act 58 of 1962...
82. Amendment of paragraph 30 of Eighth Schedule to Act 58 of 1962...
83. Amendment of paragraph 31 of the Eighth Schedule to Act 58 of 1962...
84. Amendment of paragraph 32 of Eighth Schedule to Act 58 of 1962...
85. Substitution of paragraph 34 of Eighth Schedule to Act 58 of 1962...
86. Amendment of paragraph 35 of Eighth Schedule to Act 58 of 1962...
87. Amendment of paragraph 38 of the Eighth Schedule to Act 58 of 1962...
88. Amendment of paragraph 39 of the Eighth Schedule to Act 58 of 1962...
89. Amendment of paragraph 40 of the Eighth Schedule to Act 58 of 1962...
90. Amendment of paragraph 42 of Eighth Schedule to Act 58 of 1962...
91. Amendment of paragraph 43 of Eighth Schedule to Act 58 of 1962...
92. Amendment of paragraph 44 of Eighth Schedule to Act 58 of 1962...
93. Amendment of paragraph 45 of Eighth Schedule to Act 58 of 1962...
94. Amendment of paragraph 47 of Eighth Schedule to Act 58 of 1962...
95. Amendment of paragraph 49 of Eighth Schedule to Act 58 of 1962...
96. Amendment of paragraph 51 of Eighth Schedule to Act 58 of 1962...
97. Amendment of paragraph 53 of Eighth Schedule to Act 58 of 1962...
98. Amendment of paragraph 55 of Eighth Schedule to Act 58 of 1962...
99. Substitution of paragraph 56 of Eighth Schedule to Act 58 of 1962...
100. Substitution of paragraph 58 of Eighth Schedule to Act 58 of 1962...
101.  Substitution of paragraph 59 of Eighth Schedule to Act 58 of 1962...
102.  Substitution of paragraph 61 of Eighth Schedule to Act 58 of 1962...
103.  Amendment of paragraph 65 of Eighth Schedule to Act 58 of 1962...
104.  Amendment of paragraph 67 of Eighth Schedule to Act 58 of 1962...
105.  Insertion of paragraph 67A in Eighth Schedule to Act 58 of 1962...
106.  Amendment of paragraph 74 of Eighth Schedule to Act 58 of 1962...
107.  Amendment of paragraph 76 of Eighth Schedule to Act 58 of 1962...
108.  Amendment of paragraph 80 of Eighth Schedule to Act 58 of 1962...
109.  Amendment of paragraph 81 of Eighth Schedule to Act 58 of 1962...
110.  Amendment of paragraph 84 of Eighth Schedule to Act 58 of 1962...
111.  Repeal of paragraph 85 of Eighth Schedule to Act 58 of 1962...
112.  Amendment of paragraph 86 of Eighth Schedule to Act 58 of 1962...
113.  Amendment of section 1 of Act 91 of 1964...
114.  Amendment of section 3 of Act 91 of 1964
115.  Amendment of section 4 of Act 91 of 1964...
116.  Amendment of section 6 of Act 91 of 1964...
117.  Amendment of section 8 of Act 91 of 1964
118.  Amendment of section 11 of Act 91 of 1964...
119.  Amendment of section 18 of Act 91 of 1964...
120. Amendment of section 18A of Act 91 of 1964
121.  Insertion of section 21A in Act 91 of 1964
122.  Amendment of section 37A of Act 91 of 1964...
123.  Amendment of section 38 of Act 91 of 1964...
124.  Amendment of section 43 of Act 91 of 1964
125.  Amendment of section 44 of Act 91 of 1964...
126.  Amendment of section 47 of Act 91 of 1964...
127.  Amendment of section 49 of Act 91 of 1964...
128.  Amendment of section 65 of Act 91 of 1964...
129. Amendment of section 69 of Act 91 of 1964...
130. Amendment of section 75 of Act 91 of 1964...
131. Amendment of section 89 of Act 91 of 1964...
132. Amendment of section 90 of Act 91 of 1964
133. Amendment of section 91 of Act 91 of 1964
134. Insertion of section 93A in Act 91 of 1964
135. Insertion of section 95A in Act 91 of 1964
136. Amendment of section 96 of Act 91 of 1964
137. Amendment of section 97 of Act 91 of 1964
138. Amendment of section 99 of Act 91 of 1964...
139. Amendment of section 109 of Act 91 of 1964...
140. Amendment of section 114 of Act 91 of 1964...
141. Amendment of section 1 of Act 77 of 1968...
142. Amendment of section 9 of Act 77 of 1968...
143. Amendment of section 24 of Act 77 of 1968...
144. Amendment of section 31 of Act 77 of l968...
145. Insertion of section 32B in Act 77 of 1968
146. Amendment of Item 6 of Schedule 1 to Act 77 of 1968...
147. Amendment of item 15 of Act 77 of 1968...
148. Amendment of section 1 of Act 89 of 1991...
149. Amendment of section 2 of Act 89 of 1991...
150. Amendment of section 6 of Act 89 of 1991...
151. Amendment of section 8 of Act 89 of 1991...
152. Amendment of section 10 of Act 89 of 1991...
153. Amendment of section 11 of Act 89 of 1991...
154. Amendment of section 12 of the Act 89 of 1991...
155. Amendment of section 13 of Act 89 of 1991...
156. Amendment of section 16 of Act 89 of 1991...
157. Amendment of section 20 of Act 89 of 1991...
158. Amendment of section 28 of Act 89 of 1991...
159. Amendment of section 32 of Act 89 of 1991...
160. Amendment of section 33 of Act 89 of 1991...
161. Amendment of section 33A of Act 89 of 1991...
162. Amendment of section 34 of Act 89 of 1991
163. Amendment of section 35 of Act 89 of 1991
164. Amendment of section 36 of Act 89 of 1991...
165. Amendment of section 38 of Act 89 of 1991
166. Amendment of section 39 of Act 89 of 1991...
167. Amendment of section 41 of Act 89 of 1991...
168. Amendment of section 44 of Act 89 of 1991...
169. Amendment of section 45 of Act 89 of 1991...
170. Amendment of section 47 of Act 89 of 1991
171. Amendment of section 52 of Act 89 of 1991...
172. Amendment of section 57 of Act 89 of 1991...
173. Amendment of Section 58 of Act 89 of 1991...
174. Amendment of Section 65 of Act 89 of 1991...
175. Amendment of Section 66 of Act 89 of 1991
176. Insertion of section 86A into Act 89 of 1991
177. Substitution of Schedule 1 to the Value-Added Tax Act, 1991...
178. Amendment of section 60 of Act 113 of 1993...
179. Amendment of section 39 of Act 20 of 1994...
180. Amendment of section 6 of Act 31 of 1998...
181. Amendment of section 13 of Act 31 of 1998
182. Insertion of section 17A in Act 31 of 1998
183. Amendment of section 85 of Act 53 of 1999
184. Amendment of section 86 of Act 53 of 1999
185. Repeal of section 106 of Act 53 of 1999
186. Amendment of section 15 of Act 5 of 2001
187. Repeal of section 43 of Act 19 of 2001
188. Amendment of section 45 of Act 19 of 2001
189. Amendment of section 50 of Act 19 of 2001
190. Short title

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