Acts Online
GT Shield

Exchange Control Amnesty and Amendment of Taxation Laws Act, 2003 (Act No. 12 of 2003)

Chapter I : Exchange Control Amnesty and accompanying tax measures

Part G : Miscellaneous

29. Reporting

 

1) The Chairperson of the amnesty unit must provide to –
a) the Minister, a list of all applications for the exchange control relief in terms of the amnesty –
i) indicating in respect of each application whether or not it was approved;
ii) containing the details of the amounts of the relief granted; and
iii) containing details of the amounts of levy payable in terms of Part C in respect of each such application, and
b) the Minister and the Auditor-General a list of all applications for the tax relief in terms of the amnesty –
i) indicating in respect of each application whether or nor it was approved;
ii) containing the details of the total amount of receipts and accruals from foreign sources disclosed in terms of section 6(2)(a) and amounts disclosed in terms of section 6(3)(a); and
iii) containing details of the amounts of levy payable in terms of Part D in respect of each such application; and

 

2) The list contemplated in subsection (1) must –
a) be in a form that does not disclose the identity of any applicant or facilitator concerned; and
b) be submitted at such times as may be agreed between the Chairperson and the Minister or Auditor-General, as the case may be.

 

3) The Minister must report to Parliament on –
a) the number of applicants and facilitators, respectively, who have applied for amnesty;
b) the total market value of all foreign assets which have been disclosed in terms of the amnesty;
c) the total amount of all levies payable by all applicants and facilitators; and
d) the total amount of receipts and accruals from foreign sources disclosed in terms of section 6(2)(a) and amounts disclosed in terms of section 6(3)(a).