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Table of Contents
Exchange Control Amnesty and Amendment of Taxation Laws Act, 2003 (Act No. 12 of 2003)
Notice No. 730 of 2003
Act
Preamble
Chapter I : Exchange Control Amnesty and accompanying tax measures
Part A : Definitions, Administration and Application
1. Definitions
2. Administration of Chapter
3. Persons who may apply for exchange control or tax relief in terms of amnesty
4. Special rules for donors to discretionary trust
Part B : Application, Evaluation and Approval Process
5. Application for amnesty and period for application
6. Required information for application by applicant
7. Statement of foreign assets and liabilities for tax relief
8. Required information for application by facilitator
9. Evaluation and Approval
10. Circumstances where amnesty unit may not grant approval
Part C : Exchange Control Relief in terms of Amnesty
11. Imposition of exchange control amnesty levy
12. Amount of exchange control amnesty levy
13. Payment of exchange control amnesty levy
14. Exchange Control Relief
Part D : Tax Relief in terms of Amnesty
15. Exemption for undeclared foreign income
16. Imposition and payment of domestic tax amnesty levy
17. Exemption for undeclared amounts arising in Republic
18. Circumstances where tax relief does not apply
19. Disallowance of deductions, allowances, losses and rebates
Part E : Invalidity of Approval and Review of Decision
20. Invalidity of approval
21. Objection against decision of amnesty unit
Part F : Establishment and Procedures relating to Amnesty Unit
22. Establishment
23. Constitution
24. Powers, functions and duties
25. Disclosure of interest
26. Records, provision and use of information
27. Termination of existence of amnesty unit
Part G : Miscellaneous
28. Limitation for purposes of Income Tax Act
29. Reporting
30. Regulations
Chapter II : General Amendments to Taxation Laws
31. Transfer Duty Act, 1949 section 2
32. Income Tax Act, 1962 Tax Rates
33. Income Tax Act, 1962 section 1
34. Income Tax Act, 1962 section 4
35. Income Tax Act, 1962 section 6
36. Income Tax Act, 1962 section 10
37. Income Tax Act, 1962 section 12E
38. Income Tax Act, 1962 section 64C
39. Customs and Excise Act, 1964 section 4
40. Customs and Excise Act, 1964 section 47B
41. Customs and Excise Act, 1964 Schedule 1
42. Stamp Duties Act, 1968 section 1
43. Stamp Duties Act, 1968 section 7
44. Stamp Duties Act, 1968 Repeal of section 24
45. Stamp Duties Act, 1968 Repeal of item 18 in Schedule 1
46. SA Reserve Bank Act, 1989 section 33
47. Value-added Tax Act, 1991 section 1
48. Value-added Tax Act, 1991 section 6
49. Tax on Retirement Funds Act, 1996 section 2
50. Continuation of certain amendments of Schedules Nos. 1 to 6 and 8 to Act 91 of 1964
51. Short title and commencement
Schedules
Rates of normal tax payable by persons in respect of the years of assessment
Schedule 1 : Rates of normal tax payable by persons (other than companies) in respect of the years of assessment ending 29 February 2003 and by companies in respect of years of assessment ending during the period 12 Months ending 31 March 2004
Schedule 2 : Amendments to Schedule No. 1 to the Customs and Excise Act, 1964
Regulations
Regulations- issued in terms of Section 30 of the Exchange Control Amnesty and Amendment of Taxation Laws Act, 2003 (Act No. 12 of 2003)
Notice No. R. 724 of 2004
1. Definitions
2 - 7. Provisions relating to donors to discretionary trust
8. Provisions relating to deceased estates
9 - 11. Provisions relating to facilitators
12. Payment of exchange control amnesty levy
13. Foreign source income
14 - 16. Provisions relating to domestic tax relief
17 - 18. Provisions relating to unlawful activities
19 - 20. Procedures of Amnesty Unit
leviable amount
means the leviable amount contemplated in
section 11(2)
;
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