76L      Compliance report

 

(1)     An applicant that is party to an advance pricing agreement must submit a compliance report to the Commissioner for each of the years of assessment referred to in sections 76K(5) and 76M(3) by no later than the day by which the return for each year of assessment must be submitted.

 

(2)     The compliance report must be in the prescribed form and manner, and must include the following information—

 

(a)     Any changes to the information provided in the advance pricing agreement application subsequent to submitting the application;

 

(b)     details of an affected transaction in the advance pricing agreement that has been concluded or is in the process of being concluded; and

 

(c)     confirmation and a demonstration of compliance with the terms and conditions of the advance pricing agreement.

[Section 76L inserted by section 10 of Act 18 of 2023]