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Income Tax Act, 1962 (Act 58 of 1962)

Notices

Voluntary Disclosure Programme

1. Definitions

 

 

For the purposes of this Part, unless the context otherwise indicates, any meaning ascribed to a word or expression in a relevant tax Act must bear the meaning so ascribed, and—

 

‘‘default’’

means the submission of inaccurate or incomplete information to the Commissioner, or the failure to submit information or the adoption of a tax position, where such submission, non-submission, or adoption resulted in—

(a) the taxpayer not being assessed for the correct amount of tax;
(b) the correct amount of tax not being paid by the taxpayer; or
(c) an incorrect refund being made by the Commissioner;

 

‘Income Tax Act’’

means the Income Tax Act, 1962 (Act No. 58 of 1962);

 

‘‘return’’

means any return, declaration, bill of entry or other document in terms of which a tax determination is made;

 

‘‘tax’’

means any tax, duty, levy, penalty and additional tax imposed in terms of a tax Act;

 

‘‘tax Act’’

means any legislation administered by the Commissioner;

 

‘‘tax position’’

means an assumption underlying one or more aspects of a return, including whether or not—

(a) an amount, transaction, event or item is taxable;
(b) an amount or item is deductible for tax;
(c) a lower rate of tax than the maximum applicable to that class of taxpayer or transaction applies; or
(d) an amount qualifies as a reduction of tax payable.