Glossary

This glossary describes some of the terms used on the SARS website. While every effort has been made to present accurate and up-to-date definitions, this glossary should be used as an interpretive aid only and not as an authority. SARS will not be liable for any damages of whatsoever nature arising out of the use of, reference to or reliance on any of the definitions contained herein.
 
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AA88
Agent appointment process

ABSA
Amalgamated Banks of South Africa

AC
Assessment Centre

ACB
Automated Clearing Bureau

ACC
Account
 
 
Accelerated depreciation
Any method of depreciation used for accounting or Income Tax purposes that allows greater deductions in the earlier years of the life of an asset.

Acceptable documents
Acceptable documents are documents that form part of the defined Scanning Strategy.

Access
Gaining entry into, instructing or communicating with the logical, arithmetical or memory function resources of a computer system or computer network.

ACM
Automated Cargo Management

Ad Valorem duties and taxes
Duties and taxes which are calculated on the basis of value.

Ad Valorem Products
These products are generally those which are seen as 'luxury items' and include, amongst others, Motor Vehicles, Electronic Equipment, Cosmetics, Perfumeries and other products. They will be subject to Ad Valorem Excise Duty.

Addressee
A person who is intended by the originator to receive the electronic message, but does not include an intermediary.

Adjustments estimate
Presentation to Parliament of the amendments to be made to the appropriations voted in the main budget for the year.

Administrative non-compliance Penalty
An administrative non-compliance penalty is a penalty imposed by SARS in accordance with Chapter 15 of the TAA.

Administrator of a Trust and/or Fund
A member of a board that manages the affairs of the fund. Any references to trustees and/or fund administrators includes liquidators of retirement funds.

ADR1
Alternate Dispute Resolution – Notice of Objection

ADR2
Alternate Dispute Resolution – Notice of Appeal

AEO
Authorised Economic Operator

AFS
Annual financial statements

Aggregate
The total amount payable by the purchaser in respect of the acquisition of the immovable property.

AGOA
African Growth and Opportunity Act

Aircraft general declaration
Declaration conforming to the provisions of Annex 9 to the Convention on International Civil Aviation, Chicago 1944. The general declaration is the basic document on arrival and departure providing information concerning the aircraft itself and summary information relating to the itinerary, crew, passengers and health.

Airport Transit Sheds
The airport transit shed operator is either the airline operator or another agent acting on behalf of the airline to store the goods until released by Customs.

Alternate Dispute Resolution (ADR)
ADR is a form of dispute resolution other than litigation, or adjudication through the courts. It is less formal, less cumbersome and less adversarial and a more cost effective and speedier process of resolving a tax dispute with the South African Revenue Service.

Alternate period
A period, whether of 12 months or not, commencing on the day following the last day of the preceding alternate period in relation to the employer and ending on a date falling not more than 14 days before or after the last day of February, or such greater number of days as the Commissioner, having regard to the circumstances of the case, may allow.

Annual equivalent
An amount equal to the sum of net remuneration multiplied by the ratio which a full year bears to the period in respect of which such net remuneration is payable.

Annual payment
An amount of net remuneration that is, in accordance with the employee’s conditions of service or the employer’s practice, paid in a lump sum to the employee or it is an amount that is calculated without reference to a period.

Annuity
Usually a fixed sum of money or benefit paid to a person in monthly, quarterly, yearly or similar, recurrent instalments.

AP34
Penalty assessment notice

APE
Approved exporter

APP
Advance Passenger Processing

Appeal
The act by which a person who is aggrieved by a tax decision seeks redress before a competent authority.

Appropriation
The approval by Parliament of spending from the National Revenue Fund, or by a provincial legislature from the Provincial Revenue Fund.

Approved Fund
A fund, the rules of which, have been approved by the Commissioner for SARS in accordance with the requirements as laid out in the definition of "provident fund", "pension fund", "pension preservation fund", "provident preservation fund" and "retirement annuity fund" in section 1 of the IT Act.

ARP
Automated Reconciliation Process

ASD
Application System Development

Assessment
An assessment as defined in terms of section 1 of the TAA and section 1 of the IT Act.

Assessment of duties and taxes
Declaration conforming to the provisions of Annex 9 to the Convention on International Civil Aviation, Chicago 1944. The general declaration is the basic document on arrival and departure providing information concerning the aircraft itself and summary information relating to the itinerary, crew, passengers and health.

Asset price bubble
A condition occurring when prices for a category of assets rise above the level justified by economic fundamentals.

Assignment field
A field type within the SAP system that is used as a unique reconciliation key in order to group or assign line items to each other, such as bank statement entries to cash book entries.

Association not for gain
A religious institution or other society, association or organisation (including an educational institution of a public character) which is not carried on for profit and is required to use any property or income solely in the furtherance of its aims and objects. It could also qualify as a “welfare organisation” if it conducts certain activities. The VAT414 guide deals specifically with associations not for gain and welfare organisations.

ATA Carnet
An international Customs document which, issued under the terms of the ATA Convention and the Istanbul Convention, incorporates an internationally valid guarantee and may be used, in lieu of national Customs documents and as security for import duties and taxes, to cover the temporary admission of goods and, where appropriate, the transit of goods. It may be accepted for controlling the temporary exportation and re-importation of goods but, in this case, the international guarantee does not apply. Notes: 1. The ATA carnet may not, in principle, be used for the temporary admission of means of transport (See Commentary 2 to Article 1, Annex A of the Istanbul Convention). 2. Instead of "import duties and taxes" the ATA Convention uses the term "import duties", giving it the same scope as the Glossary gives to the former expression.

ATA Convention
The expression commonly used to refer to the Customs Convention on the ATA carnet for the temporary admission of goods (ATA Convention) adopted by the Customs Co-operation Council in Brussels in 1961.

ATAF
African Tax Administration Forum

ATM
Automatic Teller Machine

ATO
Australian Tax Office, the Revenue Authority of Australia

Audit-based Control
Measures by which the Customs satisfy themselves as to the accuracy and authenticity of declarations through the examination of the relevant books, records, business systems and commercial data held by persons concerned. Note: Audit-based control is dealt with in the General Annex, Chapter 6 of the revised Kyoto Convention

Audit category
A = high risk audit

Audit pool
This refers to the pool of cases on Case Management and Tracking system from which the Manager can select cases.

Authorisation letter
A written authorisation granted by the Commissioner or by a senior SARS official to a SARS official under section 41 of the Tax Administration Act, authorising the SARS official to conduct an inspection, field audit or/and a criminal investigation for the purpose of administration of a tax Act.

Authorised Debit Push
These are payment transactions initiated on the eFiling site and authorised for each transaction. The transaction is only successful after the bank has confirmed that the transaction went through. This payment mechanism utilises the inter-banking facility, ACB that involves the initiation of payment instructions from the originating bank to the client's bank. The Debit Push mechanism may reverse due to insufficient funds once the request is processed by the originating bank. This is similar to a debit order.
 
Authorised User
That is a person authorised by a licensed exchange to perform one or more securities services in terms of the exchange rules, and includes an external authorised user, where appropriate
 
AVS
Account Verification Solution
 
Last Updated: 20/07/2016 2:18 PM     print this page
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