225. Definitions
In this Part, unless the context indicates otherwise, the following term, if in single quotation marks, has the following meaning:
Category: Chapter 16 – Understatement penalty (TAA)
Section 232 (TAA) – Assessment or determination to give effect to agreement
232. Assessment or determination to give effect to agreement
(1) If a voluntary disclosure agreement has been concluded under section 230, SARS may, despite anything to the contrary contained in a tax Act, issue an assessment or make a determination for purposes of giving effect to the agreement.
(2) An assessment issued or determination made to give effect to an agreement under section 230 is not subject to objection and appeal.
Section 233 (TAA) – Reporting of voluntary disclosure agreements
233. Reporting of voluntary disclosure agreements
(1) The Commissioner must annually provide to the Auditor-General and to the Minister a summary of all voluntary disclosure agreements concluded in respect of applications received during the period.
(2) The summary must-
(a) subject to section 70(6), not disclose the identity of the applicant, and must be submitted at such time as may be agreed between the Commissioner and the Auditor-General or Minister, as the case may be; and
[Paragraph (a) substituted by section 22 of Act 21 of 2021]
(b) contain details of the number of voluntary disclosure agreements and the amount of tax assessed, which must be reflected in respect of main classes of taxpayers or sections of the public.