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Income Tax Act, 1962 (Act 58 of 1962)

Chapter III: General Provisions

Part II: Assessments

Part IIA

80J. Notice

 

 

(1) The Commissioner must, prior to determining any liability of a party for tax under section 80B, give the party notice that he or she believes that the provisions of this Part may apply in respect of an arrangement and must set out in the notice his or her reasons therefor.

 

(2) A party who receives notice in terms of subsection (1) may, within 60 days after the date of that notice or such longer period as the Commissioner may allow, submit reasons to the Commissioner why the provisions of this Part should not be applied.

 

(3) The Commissioner must within 180 days of receipt of the reasons or the expiry of the period contemplated in subsection (2)—
(a) request additional information in order to determine whether or not this Part applies in respect of an arrangement;
(b) give notice to the party that the notice in terms of subsection (1) has been withdrawn; or
(c) determine the liability of that party for tax in terms of this Part.

 

(4) If at any stage after giving notice to the party in terms of subsection (1), additional information comes to the knowledge of the Commissioner, he or she may revise or modify his or her reasons for applying this Part or, if the notice has been withdrawn, give notice in terms of subsection (1).