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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QMS
Quality Management System

QMT
Queue Management Tool, a system employed in SARS branch offices to manage queues.

Qualifying Company
In terms of section 12J(1) ‘qualifying company’ means any company if: that company is a resident; the company is not a controlled group company in relation to a group of companies contemplated in paragraph (d)(i) of the definition of ‘connected person’; the tax affairs of the company are in order and the company has complied with all the relevant provisions of the laws administered by the Commissioner; the company is an unlisted company as defined in section 41 or a junior mining company; the company is not carrying on any impermissible trade; the sum of the investment income, as defined in section 12E(4)(c), derived by that company during any year of assessment does not exceed an amount equal to 20 per cent of the gross income of that company for that year.

Qualifying share
An equity share held by a venture capital company which is issued to that company by a qualifying company, unless that venture capital company has an option to dispose of the share, or the qualifying company has an obligation to redeem that share, for an amount other than the market value of the share at the time of that disposal or redemption.

Quality check
With regard to the Scanning Solution in the SARS Processing Centre, this refers to a visual check of the quality of pre-sorted documents received from Scanning Preparation routed for scanning and includes the following: Checking for smudged documents; Checking for poorly printed documents (fading ink) and; Inferior photo copies of original documents. NOTE: The Quality Check will only be conducted on documents within the scan strategy i.e. no quality check will be conducted on supporting documentation received with returns. The quality check also includes a visual check to ensure that splitter pages have been inserted.

Quantitative quota
Any pre-set quantity, authorized for importation or exportation of given goods, during a specified period, beyond which no additional quantity of these goods can be imported or exported.
Last Updated: 20/07/2016 11:05 AM     print this page
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