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Income Tax Act, 1962 (Act No. 58 of 1962)

Schedules

Fourth Schedule : Amounts to be Deducted or Withheld by Employers and Provisional Payments in respect of Normal Tax

Part III : Provisional Tax

23A.; 24.  Additional provisional tax payments

[Heading substituted by section 28(1) of the Income Tax Act, 1986 (Act No. 65 of 1986)]

 

23A.

(1) Any provisional taxpayer may for the purpose of avoiding or reducing his liability for any interest which may become payable by him in respect of any year of assessment under section 89quat, elect to make an additional payment of provisional tax in respect of such year.

[Note: Paragraph 23A(1) of the Fourth Schedule substituted by section 271, read with paragraph 93(a) of Schedule 1, of the Tax Administration Act, 2011 (Act No. 28 of 2011) - with effect from a date to be proclaimed]

(2) If any additional payment of provisional tax contemplated in subparagraph (1) is paid after the end of the period ending on the effective date in relation to the said year as determined under section 89quat (1), such payment shall be deemed for the purposes of section 89bis (2) to be an amount of provisional tax which was payable within the said period.

[Note: Paragraph 23A(2) of the Fourth Schedule substituted by section 271, read with paragraph 93(b) of Schedule 1, of the Tax Administration Act, 2011 (Act No. 28 of 2011) - with effect from a date to be proclaimed]

[Paragraph 23(2) of the Fourth Schedule deleted by the Tax Administration Act, 2011 (Act No. 28 of 2011)].

 

24. The Commissioner may absolve any provisional taxpayer from making payment of any amount of provisional tax payable in terms of paragraph 21(1)(a) or paragraph 23(a), if the Commissioner is satisfied that the taxable income which may be derived by such taxpayer for the year of assessment in question cannot be estimated on the facts available at the time when payment of the amount in question has to be made.

[Paragraph 24  of the Fourth Schedule substituted by section 12 of the Tax Administration Laws Amendment Act, 2014 (Act No. 44 of 2014)]