Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
Uncertificated Securities Tax Act, 1998 (Act No. 31 of 1998)7. Payment and refund |
| (1) | The tax — |
| (a) | [deleted by the Revenue Laws Amendment Act No. 31 of 2005]; |
| (b) | referred to in section 4 or 5 is payable by the member or participant to the Commissioner by the 14th day of every month in respect of changes in beneficial ownership in securities during the previous month, and such member or participant shall by the same date submit a declaration, in the form and containing the information prescribed by the Commissioner, stating the amount of tax (if any) payable by such member or participant; and |
| (c) | referred to in section 5A is payable, by the member or participant holding the securities in custody, in respect of which a person acquired the beneficial ownership or which has been redeemed or cancelled, to the Commissioner by the 14th day of every month in respect of changes in beneficial ownership in securities during the previous month, and that person shall by the same date submit a declaration, in the form and containing the information prescribed by the Commissioner, stating the amount of tax (if any) payable by that person. |
| (2) | Tax shall be refundable if the Commissioner is satisfied that the transaction or other event as a result of which such tax became payable has been cancelled, or has been set aside or declared void by any court of law: Provided that the refund may be set-off against any amount of tax, additional tax, duty, levy, charge, interest or penalty which has not been paid by the person concerned within the relevant period for payment prescribed by or under this Act or any other law administered by the Commissioner. |
