Administration of Estates Act, 1965
R 385
Tax Administration Act, 2011 (Act No. 28 of 2011)Chapter 16 : Understatement PenaltyPart B : Voluntary disclosure programme230. Voluntary disclosure agreement |
The approval by a senior SARS official of a voluntary disclosure application and relief granted under section 229, must be evidenced by a written agreement between SARS and the qualifying person who is liable for the outstanding tax debt in the prescribed format and must include details on—
| (a) | the material facts of the "default" on which the voluntary disclosure relief is based; |
| (b) | the amount payable by the person, which amount must separately reflect the understatement penalty payable; |
| (c) | the arrangements and dates for payment; and |
| (d) | relevant undertakings by the parties. |
[Section 230 substituted by section 78 of the Tax Administration Laws Amendment Act, 2013 (Act No. 39 of 2012)]
