Public Service Commission Act, 1997
R 385
Exchange Control Amnesty and Amendment of Taxation Laws Act, 2003 (Act No. 12 of 2003)Chapter I : Exchange Control Amnesty and accompanying tax measuresPart A : Definitions, Administration and Application3. Persons who may apply for exchange control or tax relief in terms of amnesty |
| 1) | The following persons who are resident on 28 February 2003 may apply for amnesty in terms of this Chapter – |
| a) | Any natural person (including the deceased estate of a natural person), a close corporation or trust, holding any foreign asset on 28 February 2003, the value of which has been wholly or partly derived from any unauthorised asset; |
| b) | Any natural person (including the deceased estate of a natural person), a close corporation or trust, holding any foreign asset on 28 February 2003, the value of which has been wholly or partly derived from any amount that was not declared to the Commissioner as required in terms of the Estate Duty Act, 1955, or the Income Tax Act, 1962; and |
| c) | Any natural person (including the deceased estate of a natural person) or any related party in relation to an applicant Contemplated in paragraph (a), which on or before 28 February 2003 assisted that applicant (otherwise than solely in an advisory capacity) – |
| i) | by accumulating foreign assets; or |
| ii) | by transferring funds or assets from the Republic, for the benefit of that applicant in a manner that involves either any contravention of the Exchange Control Regulations or a failure to comply with the Estate Duty Act, 1955, or the Income Tax Act, 1962, and those foreign assets, funds or assets are no longer held by that natural person or related part). |
| 2) | This Chapter does not apply in respect of any amount not declared to the Commissioner or any failure to comply with the requirements of the Income Tax Act, 1962, as contemplated in subsection (1)(b) and (c) where that amount constitutes, or that failure relates to – |
| a) | an amount withheld or deducted by the natural person, close corporation, trust or facilitator. as the case may be, from an employee in terms of paragraph 2 of the Fourth Schedule to the Income Tax Act, 1962; or |
| b) | an amount of withholding tax on royalties which must be paid to the Commissioner in terms of section 35 of the Income Tax Act, 1962. |
