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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Labour broker
Refers to an individual who for reward procures or provides a client with other persons who will render a service or perform work for or on behalf of that client.

The process of off-loading any goods from the means of transportation to a Customs-controlled area within South Africa and includes off-loading from any vehicle.

Refers to SARS' Legal and Policy division.

Refers to SARS' Large Business Centre.

LCL container
Less than a full container load - any container containing goods consigned from one (1) or more exporters to more than one (1) importer.

Leadership Effectiveness Advanced Programme.

Written or printed words clear enough to read.

Leadership Effectiveness Index

Letter-post items
Letters, postcards, printed papers, literature for the blind and small packets described as letter-post items in the Acts of the Universal Postal Union currently in force (*). Note: According to the Acts of the Universal Postal Union certain letter-post items are required to be accompanied by a Customs declaration form CN22/CN23 as appropriate. (*) Annex F.4. to the Kyoto Convention of 1974 and Specific Annex J, Chapter 2 of the revised Kyoto Convention.

Leviable amount
The leviable amount means the total amount of remuneration, paid or payable, or deemed to be paid or payable, by an employer to its employees during any month, as determined in accordance with the provisions of the 4th Schedule to the IT Act for the purposes of determining the employer’s liability for any Employees’ Tax in terms of that Schedule, whether or not such employer is liable to deduct or withhold such Employees’ Tax.

The imposition or collection of a tax.

Responsible by law.

Limited scope audit
As defined per the Audit Results Policy.

Line item
The part of a document containing information on a single item. It always includes an amount, an account number, the assignment to debits or credits and further specifications that depend on the business transactions to be posted.

When a business or firm is closed down or made bankrupt. The assets of the business are sold to pay their creditors.

Liquidation and Distribution Account
In case of an insolvent estate: Subject to the provisions of sections 109 and 110 of the Insolvency Act, Act 32 of 1936, a trustee/liquidator shall within a period of six months as from the date of his appointment, submit to the Master a liquidation account and a plan of distribution of the proceeds of the property in the estate available for payment to creditors, or, if all realizable property in the estate has been realized and brought to account and the proceeds are insufficient to cover the costs and charges mentioned in section 97 of Act 32/1936, a plan of contribution apportioning the liability for the deficiency among creditors who are liable to contribute. In case of a deceased estate: An account in the prescribed form as specified by the Master of the High Court within the time specified in section 29 or such further period as the Master may in any case allow.

An officer that is specifically appointed to wind up the matters of a company. The liquidator is legally authorised to act on behalf of the company in various capacities.

Listed security
Any security that is listed on an exchange (e.g. shares in a public company).

Loose Leaf Tariff System

Letter of Authority

Long service
For taxable benefit purposes means an initial unbroken period of service of not less than 15 years or any subsequent unbroken period of service of not less than 10 years.

Loose leaf tariff
Customs tariff book including Schedules 1-8 as well as the Trade Agreements with Zimbabwe and Malawi.

Locally Recruited Personnel – any person who is a South African national or is permanently resident in South Africa and who is employed by a foreign diplomatic mission.
Last Updated: 19/07/2016 3:52 PM     print this page
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