‘Companies Act’ means the Companies Act, 2008 (Act No. 71 of 2008);

“company” has the meaning assigned in section 1 of the Income Tax Act;

‘compromise’ means an agreement entered into between SARS and a ‘debtor’ in respect of a tax debt in terms of which-

 

(a)     the ‘debtor’ undertakes to pay an amount which is less than the full amount of the tax debt due by that ‘debtor’ in full satisfaction of the tax debt; and

 

(b)     SARS undertakes to permanently ‘write off’ the remaining portion of the tax debt on the condition that the ‘debtor’ complies with the undertaking referred to in paragraph (a) and any further conditions as may be imposed by SARS;

“connected person” means a connected person as defined in section 1 of the Income Tax Act;

‘controlling body’ means a body established, whether voluntarily or under a law, with power to take disciplinary action against a person who, in carrying on a profession, contravenes the applicable rules or code of conduct for the profession; and

“Customs and Excise Act” ………..

[Definition of “Customs and Excise Act” substituted by the definition of “customs and excise legislation” by section 33 of Act 23 of 2015 effective on 8 January 2016]

“customs and excise legislation” means the Customs and Excise Act, 1964 (Act No. 91 of 1964), the Customs Duty Act, 2014 (Act No. 30 of 2014), or the Customs Control Act, 2014 (Act No. 31 of 2014);

[Definition of “customs and excise legislation” added as substitition of the definition of “Customs and Excise Act” by section 33 of Act 23 of 2015 effective on 8 January 2016]

“date of assessment” means-

(a)     in the case of an assessment by SARS, the date of the issue of the notice of assessment; or

(b)     in the case of self-assessment by the taxpayer-

(i)      if a return is required, the date that the return is submitted; or

(ii)     if no return is required, the date of the last payment of the tax for the tax period or, if no payment was made in respect of the tax for the tax period, the effective date;

“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;

‘debtor’ means a taxpayer with a tax debt; and

‘decision’ means a decision referred to in section 104(2);