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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Nairobi convention
The expression commonly used to refer to the International Convention on Mutual Administrative Assistance for the prevention, investigation and repression of Customs offences adopted by the Customs Co-operation Council in Nairobi in 1977.

National budget
The projected revenue and expenditure that flows through the National Revenue Fund. It does not include spending by provinces or local government from their own revenues.

National legislation
Laws, regulations and other measures imposed by a competent authority of a contracting party and applicable throughout the territory of the contracting party concerned or treaties in force by which that party is bound.

National Revenue Fund
The consolidated account of national government into which all taxes, fees and charges collected by the South African Revenue Service and departmental revenue must be paid.

Natural person

Natural resources
Includes precious stones, metal or minerals, natural oil or natural gas.

Nature of person
Nature of person in respect of an employee includes: A for an individual with an identity or passport number. B for an individual without an identity or passport number. C for a director of a private Company or member of a Close Corporation. D for a Trust. E for a company or a Close Corporation. F for a partnership. G for a corporation. H for a personal service provide. N for a pensioner (e.g. Member, former member or beneficiary of a member or former member) receiving a pension (including any lump sum or annuity payable by a fund in consequence).

National Collections Call Centre

National Consulting Forum

Non-core Tax

Net amount of dividend
For STC purposes: The amount of a dividend declared less the amount of dividends received during a dividend cycle.
Net estate value 
Refers to amount that remains after deducting all allowable deductions and a given amount of R3.5 million.
Net remuneration
Refers to the balance of remuneration remaining (as determined by the employer) after accounting for specific deductions, which include: (i) current and arrear pension fund contributions; (ii) any current and arrear retirement annuity fund contributions; (iii) income protection policy contributions; (iv) medical scheme contributions (only for taxpayers aged 65 years and older); and (v) donations made by the employe eall of which are subject to various conditions as provided for in paragraph 2(4) of the Fourth Schedule to the Income Tax Act.

National Enforcement Unit

New returns
For VAT and PAYE, this refers to a case with three and fewer returns.

Non-Governmental Organisation

National Management Forum

Notice of Appeal

Nominal exchange rate
The current rate of exchange between the rand and foreign currencies. The “effective” exchange rate is a trade-weighted average of the rates of exchange with other currencies.

Nominee companies
Commonly formed by a bank or other organisation to manage the assets on behalf of the actual owner under an agreement.

Non Resident
Any person who falls outside the definition of "resident" in section 1 of the Income Tax Act.

Non-eligible purchases
Purchases of diesel/bio diesel fuel and not used as fuel for own primary production activities in farming, forestry and mining on land and in commercial fishing vessels, coasting vessels, offshore mining or vessels owned by the NSRI or locomotives and includes such fuel used in transport for reward/if resold/used in farming/forestry or rail freight haulage outside the borders of the republic.

Non-interest expenditure
Total expenditure by government less debt service costs.

Notice of Objection

Normal deceased estates
A deceased estate where the value of assets is more than R125 000 (“normal” deceased estate) will be administered in accordance with sections 13 and 14 of the Administration of Estates Act. The Master gives the appointed representative directions on form J190 of how to liquidate and distribute the assets. However, it should be noted that if the representative appointed does not have knowledge on how to administer the estate, the Master will request the executor to appoint an agent (for example an attorney or auditor) who will assist in administrating the estate in detail. The liquidation and distribution account must be lodged with the Master of the High Court after a period of six months. When the Master accepts the account, it shall be advertised to lie open for inspection for a period of 21 days.

Notice of motion
An application made to Court, filed together with an affidavit, where: The applicant states the reasons for the application for sequestration of the estate (individual) or liquidation of the estate (Close Corporation or Company); or One or more of his/her creditors states the reason for the application for the sequestration or liquidation of the estate.

Not required status

National Sea Rescue Institute
Last Updated: 20/07/2016 9:48 AM     print this page
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