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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OAC
Objections and Appeals Coordinator

Objection
This refers to the process whereby a taxpayer, who is aggrieved by an assessment or decision, may object thereto. The objection is made in accordance with the provisions of section 104, read together with the rules and regulations as laid down in section 103 of the TAA. An ADR1 or a NOO would be regarded as the official medium through which an objection can be raised.

OD
Organisational Development

OD&CM
Organisational Development and Change Management

OECD
Organisation for Economic Co-operation and Development

OFB
Other Fermented Beverages produced in the same way as wine, but from fruit types other than grapes.

Offence
Any breach or attempted breach of Customs Law.

Office
The Office of the Commissioner for Customs and Excise.

Office en route
Customs office where goods are imported or exported in the course of a Customs transit operation (*). (*) Annex E.1. to the Kyoto Convention of 1974 and Specific Annex E, Chapter 1 of the revised Kyoto Convention.

Officer
A person employed on any duty relating to Customs and Excise by order or with the concurrence of the Commissioner, whether such order has been given or such concurrence has been expressed before or after the performance of the said duty. The Commissioner of SARS is not deemed to be an “Officer” for the purposes of Section 4(3). (Legal Opinion Reg. 40 / 98 File 1/2/1/1).

Official rate of interest
With reference to taxable benefits, "official rate of interest" refers to the rate of interest fixed by the Minister from time to time by notice in the Gazette. Where the loan is denominated in rands, the official rate of interest will be the South African repurchase rate plus 100 basis points (1%). Where the loan is denominated in a foreign currency, the official rate of interest will be that which is equivalent to the South African repurchase rate in that currency, plus 100 basis points (1%). This is in accordance with the definition of "official rate of interest" in paragraph 1 of the Seventh Schedule to the Income Tax Act.

Old returns
For VAT and PAYE purposes, refers to a case with four and more returns.

OLO
Outlying Offices

OMS
Operations Management System
 
Once-off mandates
A mandate that is given by a taxpayer to a representative of the taxpayer. Once-off mandates will only be allowed under the following exceptional circumstances:
  • Estates
  • Incapacitated/terminally ill client
  • Non-resident
  • Imprisonment
  • SARS Registered Tax practitioners
  • When a taxpayer is located more than 200 km from nearest the SARS branch.
One time vendor
A collective vendor master record for vendors with whom only a once-off transaction is entered into.

OOC
Office of the Commissioner

OR CMT
Outstanding returns case management tracking tool on Microsoft access database.

Origin of goods
The establishment of the country in which the goods have been produced or manufactured, according to the criteria laid down for the purposes of application of the Customs tariff, of quantitative restrictions or of any other measure related to trade.

Originator
A person who sends, generates, stores or transmits any electronic message to be sent, generated, stored or transmitted to any other person, but does not include an intermediary.

ORP
Outstanding Returns Project

ORTIA
OR Tambo International Airport

OSBP
One Stop Border Post

Outline agreement
A longer-term arrangement between the procurement centre and a vendor for the supply of materials and/or provision of services over a certain period based on predefined terms and conditions.

Outlying branch office
This is an FMO branch office with certain back office functionalities for the interim period only. The taxpayer’s folder is still located and maintained in this office.

Outright exportation
Customs procedure applicable to goods which, being in free circulation, leave the Customs territory and are intended to remain permanently outside it (*). (*) Specific Annex C, Chapter 1 of the revised Kyoto Convention.

Outstanding tax debt
Total liability including capital, penalty, additional tax and interest per tax type.

Outward processing
The Customs procedure under which goods which are in free circulation in a Customs territory may be temporary exported for manufacturing, processing or repair and then reimported with total or partial exemption from import duties and taxes. This facility is provided for in the Customs and Excise Act in the form of rebate provisions which can be found in Schedule 4.

Owner
The person who has legal rights to possess imported or exported goods and includes any person lawfully acting on behalf of the owner.

Ownership in terms of BEE
This refers to economic interests. It recognises and measures the entitlement of black people to the voting rights and economic interest associated with equity holding.

Ox
A sterilised bull
Last Updated: 20/07/2016 9:55 AM     print this page
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