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Income Tax Act, 1962 (Act 58 of 1962)

Notices

Voluntary Disclosure Programme

7. Voluntary disclosure agreement

 

 

(1) The granting of the relief under section 6 must be evidenced by a written agreement between the Commissioner and the applicant who is liable for the outstanding tax.

 

(2) The agreement must be in the format prescribed by the Commissioner and must include details of—
(a) the material facts of the default on which the voluntary disclosure relief is based;
(b) the amount payable by the person, which amount must separately reflect the tax payable and the interest amount payable, if any;
(c) the arrangements and dates for payment;
(d) treatment of the issue in future years or periods; and
(e) relevant undertakings by the parties.