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
 

 
U3TM
Unified Taxpayer, Trader & Traveller Master (refers to a SARS database of taxpayer information).

UI
Unemployment Insurance

UI ACT
The Unemployment Insurance Act, no 63 of 2001.

UI Commissioner
The Unemployment Insurance Commissioner.

UIC ACT
The Unemployment Insurance Contributions Act, no 4 of 2002.

UIF
Unemployment Insurance Fund

UIF contributions
Contributions to the UIF are the compulsory contributions payable in terms of the UIC Act to fund the benefits available to workers in terms of the UI Act. Effective 1 April 2002, contributions collected by SARS are transferred to the UIF which is administered by the UI Commissioner.

Unaccompanied baggage
Personal items that are imported into or exported from South Africa independently from the baggage that accompanied a traveller on his/her flight and do not include commercial goods.

UNCTAD
United Nations Conference on Trade and Development.

Underground economy
The economy which operates outside of the rules and regulations of the country.

Unit labour costs
The cost of labour per unit of output. Calculated by dividing average wages by productivity (output per worker per hour).

Unlisted Security
Any security other than a listed security (generally refers to shares not listed on a stock exchange).

Unmarked Illuminating Kerosene
Unmarked Paraffin

Unprocessed minerals
Gold Diamonds

Unrestricted equity instrument
Refers to an equity instrument which is not a restricted equity instrument (as defined in s 8C of the IT Act). In other words, it is not subject to a restriction that prevents the taxpayer from freely disposing of that equity instrument, etc.

Unsolicited relevant material
Documents not requested by SARS.

Urgent consignments
Goods which require rapid clearance as a matter of priority due to: - their nature; - their meeting a fully justified urgent need. Note: Urgent consignments should be granted priority and rapid clearance.

URS
User Requirement Specification

USA
United States of America

USD
US Dollars ($)

UST
Uncertified Securities Tax
Last Updated: 20/07/2016 2:10 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