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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IACF
Inter-Agency Clearing Forum

IARM
Integrated Account and Revenue Management

IBPS
Integrated Business Processing Systems

IBSA
India-Brazil-South Africa

ICRAS
Integrated Customs Risk Analysis Solution

ICT
Information and Communication Technology

IDB
Income Data Base

ID-number
The 13 digit identity number indicated in the green bar-coded identity document issued in accordance with the Identification Act, No. 72 of 1986.

Illegible
Difficult or impossible to read.

Illicit economy
The illicit economy ranges from the underground economy, which operates outside of the rules and regulations of the country, to organised crime.

Illicit goods
In relation to imported, exported, excisable goods or fuel levy goods, means any such goods in respect of which any contravention under the Act has been committed and includes any preparation or other product made wholly or in part from spirits or other materials which were illicit goods.

Immovable Property
The term ‘immovable property’ includes an interest of at least 20% in a company where 80% or more of its net value consists of immovable property which is situated in South Africa.

IMO
Interim mode of operation

Impermissible trade
In terms of section 12J(1) ‘impermissible trade’ means: any trade carried on in respect of immovable property, other than a trade carried on as a hotel keeper; any trade carried on by a bank as defined in the Banks Act, 1990 (Act No. 94 of 1990), a long-term insurer as defined in the Long-Term Insurance Act, 1998 (Act No. 52 of 1998), a short term insurer as defined in the Short-Term Insurance Act, 2008 (Act No. 53 of 1998), and any trade carried on in respect of money-lending or hire-purchase financing; any trade carried on in respect of financial or advisory services, including trade in respect of legal services, tax advisory services, stock broking services, management consulting services, auditing or accounting services; any trade carried on in respect of gambling; any trade carried on in respect of liquor, tobacco, arms or ammunition; any trade carried on as a franchisee; or any trade carried on mainly outside the Republic.

Implementation date
The initiation or execution date of a specified project, assignment, venture or endeavour.

Import duties and taxes
Customs duties and all other duties, taxes or charges which are collected on or in connection with the importation of goods, but not including any charges which are limited in amount to the approximate cost of services rendered or collected by the Customs on behalf of another national authority (*) (*) General Annex, Chapter 2 of the Revised Kyoto Convention.

Import Permits
Permission to bring into South Africa goods which are subject to import control. The importation of such goods is restricted, usually as a result of legislation issued by government departments other than SARS.ermission to bring into South Africa goods which are subject to import control. The importation of such goods is restricted, usually as a result of legislation issued by government departments other than SARS.

Import/ Export licence (or import/export permit)
Authorization issued by a competent authority for the importation or exportation of goods subject to restriction.

Importation
The act of bringing or causing any goods to be brought into a Customs territory.

Importer
Includes any person who, at the time of importation: a) owns any goods imported; b) carries the risk of any goods imported; c) represents or acts as if he / she is the importer or owner of any goods imported; d) actually brings any goods into South Africa; e) is beneficially interested in any way whatever in any goods imported; f) Acts on behalf of any person referred to above.

In bond
Refer to definition “removal of goods in bond”.

In transit
Refer to definition “removal of goods in transit”.

INCO terms
The vendor’s delivery terms.

Industrial development zone
Designated sites linked to an international air or sea port, supported by incentives to encourage investment in export-oriented manufacturing and job creation.

Inflation targeting
A monetary policy framework intended to achieve price stability over a certain period of time. The SA Reserve Bank and government agree on a target rate or range of inflation to be maintained.

Information
Includes information generated, recorded, sent, received, stored or displayed by any means.

Initiator
Any person who puts forward a business need – may also be the end user.

Inland port
A common user facility, other than a port or an airport or road or rail station, with or without public authority status, equipped with fixed installations and offering services for handling and temporary storage of any kind of goods (including containers) carried under Customs transit (removal in bond) by any applicable mode of transport, placed under Customs control and with Customs and other agencies competent to clear goods for home use, warehousing, temporary admission, re-export, temporary storage, export etc. Such facilities are listed in Rule 200.07, for example the City Deep Terminal in Johannesburg.

Insolvency Practitioner
An insolvency practitioner is someone who is licensed and authorised to act in relation to an insolvent individual, partnership or company.

Inspection
An examination of a particular premises (apart from a dwelling-house or domestic premises not used for trade) in order to determine the identity of the person occupying the premises, whether the person occupying the premises is conducting a trade or an enterprise and is registered for a tax and keeps the required records (Section 45 of the TAA).

Instrument
A paper document to be stamped.
 
Instrument (WTI)
The instrument giving rise to the interest, e.g. the debt or the investment

Integrated resource plan
Government’s plan to ensure that rising electricity demand is matched by expanded supply.

Intellectual property rights
The following rights : 1. Copyright and related rights; 2. trademarks : any sign, including words, names, letters, numerals, figurative elements and combinations of colours, or combinations of these used by a manufacturer or merchant to identify its goods and distinguish them from those manufactured or sold by others; 3. geographical indications, which identify a good as originating in the territory of a State, or a region or locality in that territory, where a given quality, reputation or other characteristic of the good is essentially attributable to its geographical origin; 4. industrial designs; 5. patents which shall be available for any inventions, whether products or processes, in all fields of technology, provided that they are new, involve an inventive step and are capable of industrial application; 6. layout-design (topographies) of integrated circuits : either a protected layout-design or an integrated circuit in which a protected layout-design is incorporated; 7. protection of undisclosed information such as trade secrets and other business confidential information. Notes: 1. This term is defined by the World Intellectual Property Organization. 2. This is an overall definition, and Customs administrations should refer to the Agreement on the Trade-Related Aspects of Intellectual Property Rights (TRIPS), including trade in counterfeit goods, in their application of legislation relating to intellectual property rights.

Interim reconciliation process
An administrative process at a specific point in time which is not subject to the same legal requirements (e.g. Issuing an Employees' Tax certificate to an employee, etc.) as those which are applied at the end of the Employer’s tax period or the end of the tax year.

Intermediary
With respect to any particular electronic message, means any person who on behalf of another person receives, stores or transmits that message or provides any services with respect to that message.

Internal traffic
The carriage of persons embarked or goods loaded in the Customs territory for disembarkation or unloading within the same Customs territory. Notes: 1. The term 'internal transport' is also used with the same meaning. 2. Means of transport under a temporary admission procedure may be used in internal traffic, as provided for by the Customs Convention on Containers, 1972, and the Istanbul Convention (Annexes B.3. and C).
 
 
Intervivos
Legal term for a trust created during the lifetime of a person.

Inward processing
The Customs procedure under which certain goods can be brought into a Customs territory conditionally relieved from payment of import duties and taxes, on the basis that such goods are intended for manufacturing, processing or repair and subsequent exportation. This facility is provided for in the Act in the form of rebate provisions which can be found in Schedule 4.
 
iOS
Internetwork Operating System

IPSP
Insolvency Practitioners Selection Panel

IRD
Inland Revenue Department of New Zealand

IRP5
Refers to an Employee Tax certificate which reflects remuneration received, certain deductions and Employees’ Tax deducted or withheld during the period of employment in a particular tax year.

IRP6
An IRP6 is a return for payment of provisional tax.

IRS
Internal Revenue Service of the United States of America.

Issuing association
An association which is approved by the Customs authorities to issue ATA, CPD or TIR carnets and which is affiliated directly or indirectly to a guaranteeing chain. Notes: 1. There is a link between the terms "Guaranteeing chain", "Guaranteeing association" and "Issuing association". 2. The issuing association must be approved by the Customs authorities of the Contracting Party on whose territory it is established.

Istanbul convention
The expression commonly used to refer to the Convention on temporary admission, adopted by the Customs Co-operation Council in Istanbul in 1990.

ISV
Independent Software Vendor

IT
Income Tax

IT
Information Technology (relating to computers and systems).

IT Act
The Income Tax Act No.58 of 1962.

IT No.
Income tax number
 
IT88
Process to appoint a third party as an agent

ITR14
Income Tax Return for Companies and Close Corporations.

IT144
A donation declaration form.

IT21(a)
Application for a Tax Clearance Certificate in respect of citizens emigrating from South Africa.

IT56
Return for payment of Secondary Tax on Companies.

ITA34
Income Tax Assessment Notice

ITA88 Agent Appointment
Where a taxpayer fails to pay the penalty assessments by the specified due date, SARS will appoint their employer or anyone in control of their funds to act as an agent in terms of section 99 of the Income Tax Act.

ITAC
The International Trade Administration Commission established by Section 7 of the International Trade Administration Act No. 71 of 2001.

ITC
Information Trust Corporation

ITIL
Information Technology Infrastructure Library.

ITO
In terms of

ITR12
An ITR12 is an annual income tax return for an individual.
 
 
ITR12T
An annual income tax return for a trust.

ITREG
An electronic record containing all of the Employee Tax Certificate details for purposes of registering an employee for income tax.

ITRR
An ITRR is a request for an income tax return (ITR12) and is used to personalise the containers that will appear in the ITR12. The online version of the ITRR is actually known as the "tax return wizard".

ITS
Income Tax System

ITS swapped
This refers to when a taxpayer requests an uncrossed cheque, by means of a single crossed manual cheque. These manual cheques only apply to income tax refunds for individuals. The data cheque will be cancelled and a manual cheque will be issued. This is a type of a replacement cheque.

ITSA
Income Tax Statement of Account

IVR
Integrated Voice Recognition
Last Updated: 20/07/2016 2:20 PM     print this page
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