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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Manage sourcing
The identification, evaluation and selection, and approval of suppliers of products and/or services.

Mandatory fields
Fields (for example, of a tax return) that must be completed as a rule, with no option to disregard.

Manifest
See definition “cargo manifest”.

Manual employer
Refers to an employer who completes EMP 501 reconciliations and employee tax certificates manually, and does not create this information electronically (i.e. with a PC which makes use of SARS e@syfile software).

Mares
Female adult horses

Marketable security
Any security, stock, debenture, share, option or other interest capable of being sold in a share-market or exchange or otherwise.

MAS
Manifest Acquittal System

Master
In relation to any ship, means any person (other than a pilot) having charge of such ship.

Master of the High Court
Master in relation to any matter, property or estate, means the Master, Deputy Master or Assistant Master of a High Court, who has jurisdiction in respect of that matter, property or estate and who is subject to the control, direction and supervision of the Chief Master.

MCS
Movement Control System

Means of transport for commercial use
Any vessel (including lighters and barges, whether or not shipborne, and hydrofoils), hovercraft, aircraft, road vehicle (including trailers, semi-trailers and combinations of vehicles) or railway rolling stock, which is used for the transport of persons for remuneration or for the industrial or commercial transport of goods, whether or not for remuneration. Notes: 1. Customs formalities applicable to means of transport for commercial use are dealt with in Annex A.3. to the Kyoto Convention of 1974 and Specific Annex J, Chapter 3 of the revised Kyoto Convention. Those Annexes cover means of transport for commercial use which are used in international traffic. The definition of "means of transport for commercial use" in those Annexes includes normal spare parts, accessories and equipment, as well as lubrication oils and fuel contained in the normal tanks, when carried with the means of transport for commercial use. 2. In some countries, the term "conveyance" is used with the same meaning as "means of transport for commercial use" . 3. See Commentary 3 to Article 1, Annex C of the Istanbul Convention.

Means of transport for private use
Road vehicles and trailers, boats and aircraft, together with their spare parts and normal accessories and equipment, imported or exported exclusively for personal use by the person concerned and not for the transport of persons for remuneration or the industrial or commercial transport of goods, whether or not for remuneration. Note: Customs facilities applicable to means of transport for private use are dealt with in Annex F.3. to the Kyoto Convention of 1974 and in Specific Annex J, Chapter 1 of the revised Kyoto Convention. These Annexes cover private means of transport which are imported or exported by travellers.
 
Medical Expenses (out-of-pocket)
Are expenses actually paid, and not covered by a medical scheme and where proof of payment (e.g. receipts) can be produced, if asked for.

Medium-term Expenditure Committee (MTEC)
The technical committee responsible for evaluating the Medium-term Expenditure Framework (MTEF) budget submissions of national departments and recommending allocations.

Medium-term expenditure framework (MTEF)
The three-year spending plans of national and provincial governments published at the time of the Budget.

MFD
Multi-Functional Device

MFN
Most favoured nation refers to the application of the general rate of Customs duty.

MGL
Making Great Leaders, a leadership development programme.

MIDP
Motor Industry Development Programme

Mini cash up
Mini cash up may be performed when the amount received reaches a level that warrants banking. The offices have discretion as to the amount that can be receipted before it needs to be banked, but not more than R100 000 cash can be deposited at a time.

Mining
The exploration or prospecting for minerals or the removal of overburden and other activities’ undertaken in the preparation of a site to enable mining for minerals to commence. Can also be the operation for the recovery (mining) of minerals including the recovery of salts or the beneficiation of those minerals or of ores bearing those minerals.

Minister
The Minister of Finance

Mod check
Modulus check. This verification method tests the validity of the taxpayer’s reference number. It is an automated verification method.

Money laundering
Money laundering is the process by which the illegal source of proceeds is concealed by means of financial transactions or any other means to make them appear legitimate.

Money supply
The total stock of money in an economy.

Month
In relation to an employer, for taxable benefit purposes, means any twelve portions into which any calendar year is divided.

Mora interest
Mora can be defined as the failure of the debtor, SARS in this case, to perform on time. Mora can only occur where performance remains possible in spite of delay.
 
Mortis causa
Mortis causa (testamentary) trust is set up in terms of the will of a person and comes into effect after their death.

MOU
Memorandum of Understanding

MPRDA
Mineral and Petroleum Resources Development Act

MPRR
Mineral and Petroleum Resources Royalty

MRP
Manual Reconciliation Process

MTBPS
Medium Term Budget Policy Statement

MTU
Mobile Tax Unit

Mules
The male or female offspring of a mare-jack coupling

Mutatis mutandis
Can be interpreted as 'the necessary changes having been made'.

Mutual administrative assistance
Measures taken by a Customs administration on behalf of or in collaboration with another Customs administration for the proper application of Customs law and for the prevention, investigation and repression of Customs offences.
Last Updated: 20/07/2016 9:36 AM     print this page
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