Section 11 (CTA) – Performance allowance

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11. Performance allowance

(1)     A taxpayer that has implemented measures to reduce the greenhouse gas emissions of that taxpayer in respect of a tax period must receive an allowance in respect of that tax period not exceeding five per cent of the total greenhouse gas emissions of that taxpayer during that tax period, determined in accordance with the formula:

Z = (A  of  B – C) x D

in which formula-

(a)     “Z” represents the percentage to be determined that must not be less than zero;

(b)     “A” represents-

(i)      the sector or subsectionector greenhouse gas emissions intensity benchmark as prescribed by the Minister; or

(ii)     where no value is prescribed as required by subparagraph (i), the number zero;

(c)     “B” represents the measured and verified greenhouse gas emissions intensity of a taxpayer in respect of a tax period;

(d)     “C” represents the number one; and

(e)     “D” represents the number 100.

(2)     For the purposes of this section “measures” include action taken to reduce greenhouse gas emissions in respect of a tax period.

Section 10 (CTA) – Trade exposure allowance

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10. Trade exposure allowance

A taxpayer that is liable for the carbon tax in respect of greenhouse gas emissions must receive an allowance up to a maximum of ten per cent in respect of trade exposure as measured by value of exports plus imports divided by the total production by sector or subsector that must be determined in a manner prescribed by the Minister by regulation.

Section 8 (MPRAA) – Maintenance of records

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8     Maintenance of records

In addition to the records required under the Tax Administration Act, a registered person must retain the following records in respect of mineral resources extracted from within the Republic:

(a)     particulars of “earnings before interest and taxes” as mentioned in section 5 of the Royalty Act with sufficient detail to identify all the gross sales, income and allowable deductions in respect of those earnings;

(b)     particulars of “gross sales” as mentioned in section 6 of the Royalty Act with sufficient detail to identify all transferred mineral resources in respect of those gross sales and the persons acquiring those transferred mineral resources;

(c)     the quantity of mineral resources—

(i)      extracted but not transferred; and

(ii)     transferred,

by that registered person with sufficient detail to identify the mineral resources extracted but not transferred and the mineral resources transferred;

(d)     the accounting income with sufficient detail to identify the “earnings before interest and taxes” as mentioned in section 5 of the Royalty Act that relate to that accounting income;

(e)     any ledger, cash book, journal, cheque book, bank statement, deposit slip, paid cheque, invoice, other book of account or financial statement; and

(f)      any information specifically required by the Commissioner by public notice.

[Section 8 amended by section 271 read with paragraph 187(a) and (b) of Schedule 1 of Act 28 of 2011 and substituted by section 39(1) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]


Part IV
Repealed

[Part IV repealed by section 40(1) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

9  . . . . . .

[Section 9 amended by section 271 read with paragraph 188 of Schedule 1 of Act 28 of 2011 and repealed by section 40(1) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

10  . . . . . .

[Section 10 repealed by section 271 read with paragraph 189 of Schedule 1 of Act 28 of 2011 and by section 40(1) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

11  . . . . . .

[Section 11 repealed by section 271 read with paragraph 189 of Schedule 1 of Act 28 of 2011 and by section 40(1) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

12     . . . . . .

[Section 12 repealed by section 271 read with paragraph 189 of Schedule 1 of Act 28 of 2011 and by section 40(1) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

Section 6A (MPRAA) – Refunds

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6A      Refunds

If in respect of a year of assessment the amount of the royalty payable by a registered person is less than the sum of the payments made by that registered person in terms of sections 5, 5A and 6, the excess must be refunded by the Commissioner to the registered person under Chapter 13 of the Tax Administration Act.

[Section 6A inserted by section 38(1) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]


7   . . . . . .

[Section 7 repealed by section 271 read with paragraph 186 of Sch. 1 of Act 28 of 2011]

Section 6 (MPRAA) – Payments and returns

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6      Payments and returns

(1)     . . . . . .

[Subsection (1) substituted by section 28 of Act 39 of 2013 and deleted by section 37(1)(b) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

(2)     If the amount of the royalty payable in respect of a year of assessment exceeds the sum of the payments made in terms of sections 5(1) and (2) and 5A, the registered person must—

(a)     submit a return of that excess; and

(b)     pay the excess,

not later than six months after the last day of that year of assessment.

[Subsection (2) substituted by section 37(1)(c) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

(3)     A registered person must submit a final return for the royalty payable in respect of a year of assessment not later than 12 months after the last day of that year of assessment.

[Subsection (3) inserted by section 37(1)(d) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

[Section 6 amended by section 37(1)(a) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

Section 5A (MPRAA) – Adjustments of estimates

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5A     Adjustments of estimates

 

(1)     The Commissioner may require a registered person to justify any estimate of the royalty payable as mentioned in section 5(1) or (2) or to furnish particulars in respect of that estimate and, if the Commissioner is dissatisfied with the amount of that estimate, the Commissioner may increase the amount of the estimate to an amount that the Commissioner considers reasonable, which increase is not subject to objection and appeal.

 

(2)     If in respect of a year of assessment a registered person does not submit an estimate by the end of the period specified in section 5(1) or (2), the Commissioner may estimate the amount of the royalty payable in respect of that year of assessment.

 

(3)     Any additional amount of royalty payable as a result of the increase or estimate referred to in subsection (1) or (2) must be paid within the period specified in a notice of assessment referred to in section 96 of the Tax Administration Act and issued in respect of that additional assessment.

 

(4)     Subject to subsection (2), if a registered person fails to submit an estimate of the royalty payable in respect of a year of assessment before the end of a period of four months after the last day of that year of assessment, that registered person is regarded as having submitted an estimate of an amount of nil royalty payable.

[Section 5A inserted by section 36(1) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]

Section 5 (MPRAA) – Estimates, returns and payments

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Part III
Estimates, returns, payments, adjusted estimates, refunds and records

[Part III, heading substituted by section 34(1) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]



5      Estimates, returns and payments

(1)     In respect of a year of assessment a registered person must—

(a)     estimate the royalty payable;

(b)     submit a return of that estimate; and

(c)     make a first payment equal to one-half of the amount of the royalty so estimated,

not later than six months after the first day of that year of assessment.

(2)     In respect of a year of assessment a registered person must—

(a)     estimate the royalty payable;

(b)     submit a return of that estimate; and

(c)     make a second payment equal to the amount of the royalty so estimated less the amount paid as mentioned in subsection (1),

by the last day of that year of assessment.

[Section  5 amended by section 36(1) of Act 8 of 2010, by section 271 read with paragraph 185(a) and (b) of Sch. 1 of Act 28 of 2011 and substituted by section 35(1) of Act 16 of 2016 effective on 1 January, 2017 and applicable in respect of years of assessment commencing on or after that date]