“legal practitioner” means a legal practitioner as defined in section 1 of the Legal Practice Act, 2014 (Act 28 of 2014);

[Definition of “legal practitioner” inserted by section 14 of Act 43 of 2024]

“beneficial owner”-

(a)     of a company, has the meaning assigned to it by section 1 of the Companies Act, 2008 (Act 71 of 2008);

(b)     of a partnership, means a natural person who, directly or indirectly, ultimately owns, or exercises effective control of, the partnership, and includes—

(i)      every partner, including every member of a partnership en commandite, an anonymous partnership or any similar partnership;

(ii)     if a partner in the partnership is a legal person or a natural person acting on behalf of a partnership or in pursuance of the provisions of a trust agreement, the beneficial owner of that legal person, partnership or trust; and

(iii)     the natural person who exercises executive control over the partnership; and

(c)     of a trust, has the meaning assigned to it by section 1 of the Trust Property Control Act, 1988 (Act 57 of 1988).

[Definition of “beneficial owner” inserted by section 25 of Act 18 of 2023]

“international tax standard” means-

(a)     the OECD Standard for Automatic Exchange of Financial Account Information in Tax Matters;

(b)     the Country-by-Country Reporting Standard for Multinational Enterprises specified by the Minister; or

(c)     any other international standard for the exchange of tax-related information between countries specified by the Minister,

subject to such changes as specified by the Minister in a regulation issued under section 257;

[Definition of “international tax standard” inserted by section 33 of Act 23 of 2015 effective on 8 January 2016]

“date of sequestration” means-

(a)     the date of voluntary surrender of an estate, if accepted by a court; or

(b)     the date of provisional sequestration of an estate, if a final order of sequestration is granted by a court;

“official publication” means a binding general ruling, interpretation note, practice note or public notice issued by a senior SARS official or the Commissioner;

“Diamond Export Levy Act” means the Diamond Export Levy Act, 2007 (Act No. 15 of 2007);

“original assessment” is an assessment referred to in section 91;

“Diamond Export Levy (Administration) Act” means the Diamond Export Levy (Administration) Act, 2007 (Act No. 14 of 2007);

“outstanding tax debt” means a tax debt not paid by the day referred to in section 162;