Category: Paragraph 10 (Sixth Schedule) – Compulsory deregistration

Paragraph 10

 

  1. Subparagraph (2) substituted by section 116 of Act 31 of 2013 effective on 12 December 2013.

 

  1. Subparagraph (4) deleted by section 100 of Act 24 of 2011 effective on 1 March 2012.

Paragraph 10 (Sixth Schedule) – Compulsory deregistration

Posted on by admin_kmos

10.     COMPULSORY DEREGISTRATION

(1)     A registered micro business must notify the Commissioner within 21 days from the date on which-

(a)     the qualifying turnover of that registered micro business for a year of assessment exceeds the amount described in paragraph 2, or there are reasonable grounds for believing that the qualifying turnover will exceed that amount; or

(b)     that registered micro business is disqualified in terms of paragraph 3.

(2)     The Commissioner must, subject to subparagraph (3), deregister a registered micro business with effect from the beginning of the month following the month during which the event as described in subparagraph (1)(a) or (1)(b) occurred. 

(3)     If the increase in the qualifying turnover of that person to an amount greater than the amount described in paragraph 2 is of a nominal and temporary nature, the person must apply to the Commissioner for a decision whether the person must remain a registered micro business or not.

[Subparagraph (3) substituted by section 90 of Act 25 of 2015 effective on 8 January 2016]