Income Tax Act, 1962 (Act No. 58 of 1962)
Regulations issued under Section 91A, prescribing the circumstances under which the Commissioner may write-off or compromise any amount of tax, duty, levy, charge, interest, penalty or other amount
Part 2: Temporary write-off of tax debt
4. Temporary write-off of tax debt
|(1)||The Commissioner may temporarily write off an amount of tax debt if the Commissioner is satisfied that the tax debt is uneconomical to pursue as contemplated in paragraph 5 at that time.|
|(2)||A decision by the Commissioner to temporarily write off an amount of tax debt does not absolve the debtor from the liability of that tax debt.|
|(3)||If the Commissioner at any stage pursues the collection of any amount of tax debt which was temporarily written off under this paragraph, the Commissioner must determine interest for the period from the date that the tax debt was so written off to the date of payment at the interest rate applicable during the period that the tax debt was outstanding.|
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