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.
 
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
 

 
G
Guide

GCBD
Gauteng central business district
 
 
GDP
GDP means Gross Domestic Product. A measure of the total national output, income and expenditure in the economy. GDP per head is the simplest overall measure of welfare, although it does not take account of the distribution of income, nor of goods and services produced outside the market economy.

GDP inflation
A measure of the total increase in prices in the whole economy. Unlike CPI inflation, GDP inflation includes price increases in goods that are exported and intermediate goods such as machines, but excludes imported goods.

Geldings
Sterilised male horses

GEPF
Government Employees Pension Fund

GM
General Manager

GN
Gauteng North

Goods
Includes all wares, articles, merchandise, animals, currency, matter or things and means of transport.

Goods declaration
A statement made in the form prescribed by Customs, by which the persons interested indicate the Customs procedure to be applied to the goods and furnish the particulars which the Customs require to be declared for the application of that procedure.

Goods exported with notification of intended return
Goods exported with notification of intended return' means goods specified by the declarant as intended for re-importation, in respect of which identification measures may be taken by the Customs to facilitate re-importation in the same state (*). (*) Specific Annex B, Chapter 2 of the revised Kyoto Convention.

Goods in free circulation
Goods which may be disposed of without Customs restriction (*). (*) Specific Annex B, Chapters 1 and 2 of the Revised Kyoto Convention.

Goods of no commercial value
Articles which are regarded by Customs to be of negligible value and which are to be used only for soliciting orders for goods of the kind they represent.

Gross fixed capital formation
The addition to a country’s fixed capital stock over a specific period, before provision for depreciation.
 
Gross Retirement Funding Income
All taxable income and fringe benefit amounts that will be used to calculate how much of the pension fund contributions may be allowed as a tax deduction.
 
Gross Non-Retirement Funding Income
All income and fringe benefit amounts that won't be included to calculate how much of the pension fund contributions may be allowed as a tax deduction.

Group companies
When companies are part of a group with a parent company.

GS
Gauteng South

GSP
Generalised System of Preferences

Guarantee
Undertaking by which the surety assumes obligations towards the Customs.

Guaranteeing Association
An association which is approved by the Customs of a Contracting Party to an international agreement to guarantee the payment of any sums legally due, under the terms of this agreement, to the Customs of that Contracting Party, and which is affiliated to a guaranteeing chain. Notes: 1. Guaranteeing associations are established under international agreements destined to facilitate temporary admission or international transit of goods, for example the ATA, Istanbul and TIR Conventions. 2. There is a link between the terms 'guaranteeing chain', 'guaranteeing association' and 'issuing association'.

Guaranteeing Chain
A guaranteeing scheme administered by an international organization to which guaranteeing associations are affiliated. Notes: 1. Guaranteeing chains are usually established under international agreements destined to facilitate temporary admission or international transit of goods, for example the ATA, Istanbul and TIR Conventions. 2. There is a link between the terms 'guaranteeing chain', 'guaranteeing association' and 'issuing association'.

GUI
Graphical User Interface

GWEC
Gauteng West Enforcement Centre

 
Last Updated: 19/07/2016 3:03 PM     print this page
SARS eFiling eFiling Login eFiling Register Now eFiling Forgot Password eFiling Forgot Username E@syFile
FIND A PUBLICATION
FIND A FORM
FIND AN FAQ