Acts Online
GT Shield

Public Finance Management Act, 1999 (Act No. 1 of 1999)

Chapter 2 : National Treasury and National Revenue Fund

Part 2: National Revenue Fund

12. Deposits and withdrawals by South African Revenue Services in Revenue Funds

 

(1) The South African Revenue Services must promptly deposit into a Revenue Fund all taxes, levies, duties, fees and other moneys collected by it for that Revenue Fund, in accordance with a framework determined by the National Treasury.

 

(2) The South African Revenue Services may, despite section 15(1), withdraw money from the National Revenue Fund—
(a) to refund any tax, levy or duty credits or any other charges in connection with taxes. levies or duties;
(b) to make other refunds approved by the National Treasury; or
(c) to transfer to a member of the South African Customs Union any money collected on its behalf.

 

(3) The National Treasury must promptly transfer all taxes, levies, duties, fees and other moneys collected by the South African Revenue Services for a province and deposited into the National Revenue Fund, to that province's Provincial Revenue Fund.

 

(4) Withdrawals in terms of subsection (2) or (3) are direct charges against the National Revenue Fund.