‘penalty assessment’ means an assessment in respect of-
(a) a ‘penalty’ only; or
(b) tax and a ‘penalty’ which are assessed at the same time;
Author: admin_kmos
“First incidence” definition of section 208 of TAA
‘first incidence’ means an incidence of non-compliance by a person if no ‘penalty assessment’ under this Chapter was issued during the preceding 36 months, whether involving an incidence of non-compliance of the same or a different kind, and for purposes of this definition a ‘penalty assessment’ that was fully remitted under section 218 must be disregarded;
“‘Administrative non-compliance penalty’ or ‘penalty'” definition of section 208 of TAA
“administrative non-compliance penalty” or “penalty” means a “penalty” imposed by SARS in accordance with this Chapter or a tax Act other than this Act, and excludes an understatement penalty referred to in Chapter 16;
Section 208 (TAA) – Definitions
208. Definitions
In this Chapter, unless the context indicates otherwise, the following terms, if in single quotation marks, have the following meanings:
Part A – General (TAA)
Part A
General
Chapter 15 – Administrative non-compliance penalties (TAA)
CHAPTER 15
ADMINISTRATIVE NON-COMPLIANCE PENALTIES
Section 207 (TAA) – Reporting by Commissioner of tax debts written off or compromised
207. Reporting by Commissioner of tax debts written off or compromised
(1) The amount of tax debts ‘written off’ or ‘compromised’ during a financial year must be disclosed in the annual financial statements of SARS relating to administered revenue for that year.
(2) The Commissioner must on an annual basis provide to the Auditor-General and to the Minister a summary of the tax debts which were ‘written off’ or ‘compromised’ in whole or in part during the period covered by the summary, which must-
(a) be in a format which, subject to section 70(5), does not disclose the identity of the ‘debtor’ concerned;
(b) be submitted within 60 business days following the end of the fiscal year; and
(c) contain details of the number of tax debts “written off” or “compromised” and the amount of revenue forgone, which must be reflected in respect of main classes of taxpayers or sections of the public.
Section 206 (TAA) – Register of tax debts written off or compromised (TAA)
206. Register of tax debts written off or compromised
(1) SARS must maintain a register of the tax debts ‘written off or ‘compromised’ in terms of this Chapter.
(2) The register referred to in subsection (1) must contain-
(a) the details of the ‘debtor’, including name, address and taxpayer reference number;
(b) the amount of the tax debt ‘written off’ or ‘compromised’ and the periods to which the tax debt relates; and
(c) the reason for ‘writing off’ or ‘compromising’ the tax debt.
Part E – Records and reporting (TAA)
Part E
Records and reporting
Section 205 (TAA) – SARS not bound by compromise of tax debt
205. SARS not bound by compromise of tax debt
SARS is not bound by a ‘compromise’ if-
(a) the ‘debtor’ fails to disclose a material fact to which the ‘compromise’ relates;
(b) the ‘debtor’ supplies materially incorrect information to which the ‘compromise’ relates;
(c) the ‘debtor’ fails to comply with a provision or condition contained in the agreement referred to in section 204; or
(d) the ‘debtor’ is liquidated or the ‘debtor’s’ estate is sequestrated before the ‘debtor’ has fully complied with the conditions contained in the agreement referred to in section 204.