Protection of Businesses Act, 1978
R 385
Exchange Control Amnesty and Amendment of Taxation Laws Act, 2003 (Act No. 12 of 2003)Regulations issued in terms of Section 30 of the Exchange Control Amnesty and Amendment of Taxation Laws Act, 200312. Payment of exchange control amnesty levy |
| 12) | For purposes of sections 12(1)(a) and 13(1)(a) of the Act- |
| a) | where a person in anticipation of the exchange control relief in terms of the amnesty, repatriated any amount to the Republic on or after 28 February 2003 but before the date of approval, that amount must be deemed to have been repatriated by that person on the date of approval; |
| b) | the amount of the exchange control amnesty levy which is payable in respect of any amount repatriated by a person as contemplated in paragraph (a), must be converted into Rand by using the ruling spot exchange rate on the date of actual repatriation by that person before the date of approval. |
