227.    Requirements for valid voluntary disclosure

The requirements for a valid voluntary disclosure are that the disclosure must-

(a)     be voluntary;

(b)     involve a “default” which has not occurred within five years of the disclosure of a similar “default” by the applicant or a person referred to in section 226(3);

[Paragraph (b) substituted by section 66 of Act 23 of 2015 effective on 8 January 2016]

(c)     be full and complete in all material respects;

(d)     involve a behaviour referred to in column 2 of the understatement penalty  percentage table in section 223;

[Paragraph (d) substituted by section 66 of Act 23 of 2015 effective on 8 January 2016]

(e)     not result in a refund due by SARS;

[Paragraph (e) amended by section 22(a) of Act 4 of 2026]

(f)      be made in the prescribed form and manner; and

[Paragraph (f) amended by section 22(b) of Act 4 of 2026]

(g)     not constitute an “underpayment” as defined in section 77Z of the Customs and Excise Act, 1964.

[Paragraph (g) added by section 22(c) of Act 4 of 2026]