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.