Tax Administration Act, 2011 (Act No. 28 of 2011)
Duty to Keep the Records, Books of Account or Documents in Terms of Section 29 of the Tax Administration Act, 2011 (Act No. 28 of 2011)
2. Persons required to keep specified records, books of account or documents
A person must keep the records specified in paragraph 3 and 4 if the person—
|(a)||has entered into a potentially affected transaction; and|
|(b)||the aggregate of the person’s potentially affected transactions for the year of assessment, without offsetting any potentially affected transactions against one another, exceeds or is reasonably expected to exceed R100 million.|
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