FAQ: There are concerns about personal information and the fact that each shareholder’s income tax number, cell number and email address is required to be disclosed to which a shareholder might object. Has SARS considered any POPI Act implications in this regard?
Yes, SARS has considered the issues raised, and will not be in violation of either the POPI Act or the SARS oath of secrecy.
FAQ: Should the declaration of the shareholding be at the date of submission of the return, or the shareholding at the end of the year of assessment for which the return is submitted?
The details of the holders of the beneficial interest in the shares as at the end of the year of assessment should be submitted. In other words, it should be a snapshot of the position at the end of the specific year of assessment.
FAQ: Where there are nominee shareholders holding shares on behalf of another shareholder, which shareholder’s information is meant to be disclosed? Should the ITR14 “share register” align to the company’s share register required in terms of the Companies Act, which will have the nominee shareholder and not the ultimate shareholder?
The ITR14 requires disclosure of the holder of the beneficial interest in the share, and not the nominee or registered holder.
FAQ: Whose contact details information should be disclosed, when completing the share register?
Is it the public officer for SA shareholder entities or perhaps the company secretary? What about foreign holding companies? What about Trusts? Complete the contact details of the individual/entity that owns (i.e., holds the beneficial interest in) the shares. Where this is a company, this would be the public officer, and where it is a […]
FAQ: I did not receive the initial communication from SARS about the notice to migrate to RLA, but I have received the intention to suspend?
SARS implemented the RLA system in April 2020, since then regular updates and webinars were conducted to educate traders to onboard to the new system; information can be obtained in the RLA webpage archives. Or see the RLA landing webpage where the above archive is linked from.
FAQ: Does the client automatically receive the old bond after the replacement has been approved?
Once a client has lodged a replacement bond, the required cancellation application must be submitted through the DA185 application.
FAQ: What happens when one wants to apply for the decreasing/increasing of bond?
If a client is on RLA they can submit an amendment application through eFilling for client types that are catered on RLA. If the client is not yet on RLA, they will need to submit a manual DA185 application. Re-assessment will be done, then approved or declined depending on the outcome of the assessment.
FAQ: Can cancelled bonds get reinstated or does the client need to reapply?
Once a bond is cancelled a client will be required to submit a new application.
FAQ: Can I please get the RLA manual or presentation to on-board my clients?
See the RLA system presentation for guidance.
FAQ: Where can I obtain my certificate after I have registered for trade agreements?
Certificates are issued by the Customs branch. They are not electronical.
