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
AA88
Agent appointment process
Annual financial statements
Air Passenger Tax
B
Business and Individual Taxes
The Bid Evaluation Committee, also known as the Tender Evaluation Committee is a committee of representatives from Procurement, BEE, Finance and Business which is responsible for the evaluation of tenders.
Any person who has a vested or contingent interest in all or a part of the receipts, accruals or the assets of a trust. The benefit available to a beneficiary depends on the settlor’s purpose when creating the trust and on the extent of the property held in trust.
The Kingdom of eSwatini;
The Kingdom of Lesotho; and
The Republic of Namibia.
The reference number assigned by a carrier to the booking of cargo by a shipper immediately on completion of the booking process.
- Only after the cargo has been booked is a transport document number assigned by the carrier.
The booking reference number does not equate to a transport document number and cannot be reflected in the transport document number field of the clearance declaration.
C
Change advisory board consists of managers and senior managers of SARS’ IT and Business System divisions.
Completely Automated Public Turing test to tell Computers and Humans Apart
Any report prescribed in the Rules that must be submitted for the purpose of the CPS, namely:
- Advance container loading notice in respect of containerised cargo in the sea modality for import cargo;
- Pre-arrival cargo reports in respect of sea, air, rail and road import (including transit and transhipment) cargo;
- Cargo departure reports in respect of sea, air, rail and road export cargo;
- Outturn reports including discharge and load reports, terminal gate reports, depot gate reports, as well as packing and unpacking reports;
- Notifications from SARS to depots of advance cargo information to enable the submission of outturn reports by licensees; and
- Manual and electronic acquittal of manifests
An agreement between parties, including a formal written contract, a properly authorised purchase order (with attached terms and conditions relating to that purchase) and any other agreement in writing between SARS and a supplier of goods and/or services.
- Loan
- Donation
- Distribution from another trust or foundation.
- Schedule information relating to the impending arrival of foreign going ships and aircraft as well as cross border trains; and
- Arrival and departure reports for foreign going ships and aircraft as well as cross border trains
- Schedule information relating to the impending arrival of foreign going ships and aircraft as well as cross border trains; and
- Arrival and departure reports for foreign going ships and aircraft as well as cross border trains
D
D coded case
Cases registered on the PAYE system for SDL purpose only.
Data
A representation of information, knowledge, facts, concepts or instructions which are being or have been prepared, in a formalised manner and is intended to be processed, is being or has been processed in a computer system or network and may be in any form (including computer printouts, magnetic optical storage media, punched cards and punched tapes) or stored internally in the memory of the computer.
Day
Refers to a business day as contemplated in section 1 of the TAA, unless specified otherwise.
DB
Debit journal
DCOO
Deputy Chief Operations Officer
DDU
Detector Dog Unit
Debt-service cost
The cost of interest on government debt.
Decision
The individual act by which the Customs decide upon a matter relating to Customs law (*).
Declarant
Any natural or legal person who makes a Customs declaration or in whose name such a declaration is made.The declarant may be any natural or legal person who makes a Customs declaration whether in his / her own name and on his / her own behalf or in the name and on behalf of another natural or legal person or in his / her own name but on behalf of another natural or legal person. A natural person is any individual human being. A legal person is a person(s) representing a company, firm organisation, closed corporation etc.
Declaration Case
All declarations submitted, on which the supporting documents were requested, in order for further inspection purposes will be managed through the SARS system which refer to declarations routed in this manner as a case.
Declaration date of a dividend
The date of declaration of a dividend, whether in cash or otherwise, is the date of payment by a company or close corporation or the date of the prior approval of the declaration by the directors or members.
Declaration of arrival or declaration of departure
Any declaration required to be made or produced to Customs authorities upon the arrival or departure of a means of transport by the person responsible for the means of transport or his / her agent and containing the necessary particulars relating to the means of transport and to the journey, cargo, stores, crew or passengers.
Declaration of origin
An appropriate statement as to the origin of the goods made in connection with their importation or exportation, by the manufacturer, producer, supplier, importer, exporter or other competent person on the commercial invoice or any other document relating to the goods.
Declarations
For Customs is the act whereby a person indicates (on a single administrative document or SAD form) the wish to place goods under a given Customs procedure such as importation, exportation, removing in bond/transit or moving across the borders between the SACU countries.
Deductive method
Where the customs value is derived from the selling price of the imported goods.
Deemed Property of the Deceased
Deemed Property of the Deceased includes:
Any amount due and recoverable under any policy of insurance which is a life policy issued or payable in South Africa (subject to certain conditions having been met);
Any property donated by the deceased in terms of a donation which is exempt from donations tax, if that property is not otherwise included as property of the deceased for purposes of the Estate Duty Act;
Any amount of any claim acquired by the deceased estate under the Matrimonial Property Act, 1984 in terms of the accrual system; and
Any property which the deceased was competent to dispose of immediately prior to his or her death.
Deferred payment arrangements
Arrangements are made for payment to be made at a later date.
Departmental transfer
Payment is transferred from one tax type to another.
Deposit
A sum of money provisionally paid (French : “consignation”), or title deeds, bearer bonds, etc. lodged as security for the payment of such duties, taxes or other sums as may become chargeable.
Depreciation (capital)
A reduction in the value of fixed capital as a result of wear and tear or redundancy.
Depreciation (exchange rate)
A reduction in the external value of a currency.
De-register or de-registration
Refers to the act of removing a taxpayer from the tax register, usually when that taxpayer is no longer liable to pay tax.
Detain for OGA
The consignment is Customs released but may not be released by the release authority until the relevant OGA release is obtained.
DFA
Department of Foreign Affairs
DGT
Daily gross takings
DHA
Department of Home Affairs
DI
Documentary Inspector
DIP
Diplomat
DIP Act
The Diplomatic Immunities and Privileges Act, no. 37 of 2001.
Diplomatic employer
Any person in a foreign diplomatic mission who has the authority or is responsible to pay any amount by way of remuneration to a locally recruited staff member under the provisions of any law.
DIRCo
Department of International Relations and Cooperation.
Direct deposits
The deposit of funds directly into a bank account as a form of payment.
Disability
A “disability”, as defined in section 6B(1) of the IT Act means – a moderate to severe limitation of a person’s ability to function or perform daily activities as a result of a physical, sensory, communication, intellectual or mental impairment. The disability must be diagnosed by a duly registered medical practitioner, and that disability must have lasted or has a prognosis of lasting more than one year.
Disposal
Any event, act, forbearance or operation of law which results in a creation, variation, transfer or extinction of an asset (e.g. sale or transfer).
Displaced Employee (for ETI purposes only)
An employee that has been discharged from their service and has been replaced with a qualifying employee with the intention of benefiting from the ETI.
Disposal date
The date on which an agreement is concluded. If there are suspensive conditions in the agreement (such as, the sale is subject to the purchaser obtaining financing from a bank), the time of disposal is when the suspensive condition is fulfilled.
Dispute
A disagreement on the interpretation of either the relevant facts involved or the law applicable thereto, or of both the facts and the law.
Distinct persons (ITR12T)
Distinct persons mean each person that has taken part in any of the listed transactions (on the first page of the return) at least once. E.g. Taxpayer A received a distribution from the trust for non-taxable income and has granted the trust a loan. This will be considered to be 2 distinct persons.
DI TR
Documentary Inspector Technical Reviewer
Diverting goods
Removing goods in bond to a destination other than the destination declared on entry for removal in bond or delivering such goods or causing such goods to be delivered in South Africa except in the control of the Controller/Branch Manager at the place of destination.
Dividend cycle
A dividend cycle is the period between dividend declaration dates. A dividend cycles begin immediately after the previous cycle has ended. A dividend cycle ends on the date on which a dividend accrues to a shareholder.
Dividend declarant
The entity/ legal entity that declared the dividend (also referred to as the issuer of the dividend).
Dividend declare date
The date on which a dividend is declared by a company.
Dividend declared
Approval of the payment or distribution of a dividend by the directors of a company or by any other person with comparable authority or, in the case of the liquidation of a company, the liquidator thereof.
Dividend declaring entity
The entity/legal entity that declared the dividend (also referred to as the issuer of the dividend).
Dividend in specie
A dividend paid in a form other than cash.
Dividend withholding tax
Dividends tax is withheld and paid to SARS by the company paying the dividend or by a regulated intermediary (i.e. a withholding agent).
Dividends
A dividend is defined in section 1(1) of the Income Tax Act, and means any amount transferred or applied by a company for the benefit or on behalf of any person in respect of a share in that company (excluding a return of contributed tax capital, the issue of capitalisation shares and certain buy-back of shares by a listed company).
Dividends Tax (DT)
Dividends Tax (DT) is a tax levied on shareholders (beneficial owners of dividends) when they receive dividend distributions from companies.
Dividends tax liability
Dividends tax payable by a company that declared and paid a dividend in specie or dividends tax payable by the beneficial owner in respect of a cash dividend.
Division of revenue
The allocation of funds between the spheres of government as required by the Constitution.
DM
Debt Management
DME
Department of Minerals and Energy
DOA
Delegation of Authority
Document
Any medium designed to carry a record of data entries, including magnetic tapes and disks, microfilms, etc. Note: This term is defined in Annex J.1. to the Kyoto Convention of 1974.
Document checking area
The Document Checking Area is a dedicated area within the scanning facility (within the received & sort area) within which the sorting accuracy of pre-sorted documents (received from scanning preparation) will be checked. Documents will be checked against the following criteria: Applicability to the Scanning Strategy; and Document quality and suitability for scanning.
Documentary evidence of origin
A certificate of origin, a certified declaration of origin or a declaration of origin (*). (*) Annex D.2. to the Kyoto Convention of 1974 and Specific Annex K, Chapters 2 and 3 of the revised Kyoto Convention.
Domicilium Citandi et Executandi
Address for legal purposes
Donations Tax
Donations tax is a tax payable on the value of property disposed of by a resident by means of a donation.
Donor/Founder/Settlor of a trust
Is the person who starts the process leading to the creation of a trust and establishes the terms of the trust. The property may be transferred to a trustee to be held in trust or may declare a trust of the property which is already held.
Donkey
A domesticated ass
Double Taxation Agreement (DTA)
An agreement between two countries to prevent income that is taxed in one country from being taxed in the other country as well.
DPS
Declaration Processing System
DPW
Department of Public Works
DQP
Data Quality Programme
DR
Depository Receipts
Drawback
When Part or all of the import duties are refunded to importers after the following conditions are met:
Importer is registered in terms of the Act – Schedule 5 Part 1;
Goods are manufactured from imported products; and
End products have been legally exported out of the Customs Union
Drawback procedure
The Customs procedure which, when goods are exported, provides for a refund (total or partial) to be made in respect of the import duties and taxes charged on the goods, or on materials contained in them or consumed in their production (*). (*) Annex E.4. to the Kyoto Convention of 1974 and Specific Annex F, Chapter 3 of the revised Kyoto Convention.
Drop box
SARS managed/owned container for the submission of documents and/or payments to SARS.
Dry
In line with Schedule 6 of the Customs and Excise Act, “dry” or “contracted or hired on a dry basis” means that any vehicle, vessel, machine or any other equipment whatsoever using distillate fuel is hired or a person using such vehicle, vessel, machine or other equipment is contracted by a user for the purpose of performing any qualifying activity and the user supplies the distillate fuel from eligible purchases.
DTCA
Dutch Tax and Customs Administration
DTI
Department of Trade and Industry
Dual channel system (red/green)
Simplified Customs control system allowing travellers on arrival to make a Customs declaration by choosing between two types of channel. One, identified by green symbols, is for the use of travellers carrying goods in quantities or values not exceeding those admissible duty-free and which are not subject to import prohibition or restriction. The other, identified by red symbols, is for travellers with goods to declare. Note: The purpose of this system is to facilitate rapid baggage clearance and traveller flow.
Due date
Date on which payment of duties and taxes become due (*).
Dummy number
The VAT/PAYE/UIF/SDL systems historically treated unknown payments or a payment with an invalid reference number by allocating these payments to a tax account with a number commencing with 799/499/U99 or L99, which were the dummy numbers. These payments were then investigated and where possible allocated to the correct taxpayer. This process was replaced over time by the SAP clarification process, where any unknown payment or invalidly referenced payment is held until the correct taxpayer is identified and allocated to the taxpayer. The dummy accounts concept however remained active for specific invalidly referenced payments and other exceptions. SARS is now standardising the unknown payments process and is in the process to discontinue the dummy account concept in the systems to only resolve invalidly referenced or unknown payments via the standard SAP clarification process.
Duties and taxes
Import duties and taxes and/or export duties and taxes (*).
Duty
Any duty leviable under the Customs and Excise Act No 91 of 1964. Subject to the provisions of Section 47B, includes any passenger tax leviable under that section and any environmental levy leviable under Chapter VA.
Duty-free shop
Shops under Customs control, generally located in sea ports or airports at which ‘travellers, proceeding abroad, may acquire goods free of Customs duties and taxes. These shops usually have storage areas for the goods and such warehouses and shops are managed by Customs as bonded warehouses.
Dwelling
Means, except where it is used in the supply of commercial accommodation, any building, premises, structure, or any other place, or any part thereof, used predominantly as a place of residence of abode of any natural person or which is intended for use predominantly as a place of residence or abode of any natural person, including fixtures and fittings belonging thereto and enjoyed therewith.
E
e@syscan
Scan solution Custom developed for external use by clients and agents.
e@syFile
A software package provided by SARS which has the functionality to create reconciliation documents in the prescribed formats and produce a ZipCentral file for submission purposes.
e@syFile™ Employer
A software package supplied by SARS which has the functionality to create reconciliation documents in the prescribed formats and produced an electronic file in ZipCentralFile format submission purposes.
EBE
Enterprise Business Enablement
EBR
Enterprise Business Reporting
EC
Eastern Cape
EC
Enforcement Centre
EC
European Commission
Economic cost
The cost of an alternative that must be forgone to pursue a certain action. Put another way, the benefits that could have been received by taking an alternative action.
EDI
Electronic Data Interchange
EDMS
Electronic Document Management System
eFiling
A free, convenient and secure electronic channel for submission of tax returns and payments to SARS.
eFiling Profile Administrator
eFiling has the concept of an Administrator that can manage aspects of the eFiling setup. There are 3 different eFiling Administrator roles:
Manage Users – This administrator can create and change users and assign them to groups;
Manage Taxpayers – This administrator can create and change taxpayers and assign them to groups; or
Manage Groups – This administrator can create and change groups and assign users and taxpayers to groups.
eFiling user
This is the individual that has registered on eFiling and thus have eFiling login credentials. If this user is registered for Personal Income Tax this user will also have a corresponding taxpayer entry on eFiling.
EFT
Electronic funds transfer (EFT) is the electronic exchange, transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.
EFTA
European Free Trade Area
EI
Exempt Institution (e.g. approved Public Benefit Organisations).
Electric Filament Lamp
Non energy-saving light bulbs.
Electronic Road Freight Manifest(eRFM)
The simplification and standardisation of a commercial road manifest that carriers will present to the Customs Officer at the land border-port on arrival.
Electronic Submission
Electronic submitted and cognate expressions relating to electronic communication means the electronic communication between a user and the Commissioner, the Controller or an officer in accordance with the provisions of Section 101A, its Rules, the user agreement contemplated in that section and the user manual referred to tin such agreement.
Eligible purchases
Purchases of distillate fuel for use as fuel for own primary production activities in farming, forestry and mining on land and in commercial fishing vessels, coasting vessels, offshore mining or in vessels owned by the NSRI or locomotives.
Embargo release
The process whereby the declarant gets permission to have the goods inspected at their premises instead of the port or depot.
Emergency change (EM)
Emergency changes are changes that are requested to be implemented urgently into our environment. Change management needs to assess if it is really an emergency by evaluating the impact and risk that is the cause and whether it will be resolved by the requested change.
EMP
Employer
EMP201
Monthly employer declaration form.
EMP501
Employer reconciliation declaration form.
EMP601
Tax certificate cancellation declaration form.
EMP701
Reconciliation adjustment declaration form.
Employee
An employee for employees’ tax purposes is defined as: Any person (other than a company) who receives remuneration or to whom remuneration accrues; Any person who receives remuneration or to whom remuneration accrues by reason of any services rendered by such person to or on behalf of a labour broker; Any labour broker; Any person or class or category of person whom the Minister of Finance by notice in the Government Gazette declares to be an employee for the purposes of this definition; Any director of a private company who is not otherwise included in terms of paragraph (a); Any personal service provider.
Employee tax certificate
A certificate in the form prescribed by the Commissioner which shows the remuneration paid or payable to the employee/former employee by the employer and the sum of amounts of Employees’ Tax deducted or withheld by the employer from such remuneration. The Employee Tax certificate format is prescribed on the: 1999 to 2007 format: IRP5 and IT3(a); and From 2008 format: IRP5/IT3 (a).
Employees’ Tax
An amount of tax that an employer must deduct or withhold from remuneration paid or payable to an employee. Employees‘ Tax is deducted during the tax period.
Employer
Any person who pays or is liable to pay any person any amount by way of remuneration, and any person responsible for the payment of any amount by way of remuneration, to a person under the provisions of a law or out of public funds (including the funds of any provincial council or any administration or undertaking of the State) or out of funds voted by Parliament or a provincial council. This definition excludes any person not acting as a principal but includes any person acting in a fiduciary capacity or in his/her capacity as trustee in an insolvent estate, an executor or an administrator of a benefit fund, pension fund, pension preservation fund, provident fund, provident preservation fund, retirement annuity fund or any other fund.
EMPSA
Employer Statement of Account
Entity
All SARS clients which includes:ll SARS clients which includes:
Individuals
Companies (Local and Foreign)
Trusts
Partnerships
Clubs
3rd parties
Traders, etc.
Entry for home consumption
When goods are cleared for use in South Africa and include entry under any item in Schedule 3, 4 or 6. “Entry for home consumption” is also regarded as “Duly entered”. Goods cleared terms of Rebate Items listed in Schedule 3 and 4, although deposited in rebate stores and controlled by Customs are still regarded as goods being “entered for home consumption”.
Environmental Levy
Means the environmental levy imposed on any goods which have been manufactured in or imported into South Africa under Schedule 1 Part 3.
epayment
Electronic payments are payments that are made directly to payee from your bank accounts using security features over the Internet to process the transactions.
EPMO
Enterprise Project Management Office.
Equitable share
The allocation of revenue to the national, provincial and local spheres of government as required by the Constitution.
Equity instrument
An equity share in a company or a member’s interest in a Close Corporation, including an option to acquire such a share or member’s interest and any other financial instrument which is convertible to a share or member’s interest.
Equivalent compensation
System allowing, under certain Customs procedures, the exportation or importation of goods identical in type, description, quality and technical characteristics to those previously imported or exported (*). Notes: 1. In the context of the ECE Convention on Customs treatment of pool containers used in international transport, this term means the system that allows the re-exportation or re-importation of a container of the same type as that of another container previously imported or exported. 2. In certain countries, this system only allows a temporary admission for inward processing procedure or a temporary exportation for outward processing procedure to be discharged on presentation of a compensating product obtained from goods equivalent to those that have been exported or imported. 3. In certain countries, this system can also be applied to goods that will be imported or exported. (*) See the Guidelines to Chapters 1 and 2 of Specific Annex F to the Revised Kyoto Convention.
Equivalent goods
Goods identical in description, quality and technical characteristics to those imported or exported for inward or outward processing.
ER
Employee relations
Estate Duty
Estate duty is levied in terms of the Estate Duty Act, 1955, Act 45 of 1955 (the Act) and constitutes a tax which has been levied on deceased estates since 1 April 1955. Under current legislation it is levied on the dutiable amount of the estate which exceeds R3 500 000, at a rate of 20%.
eSTT System
Electronic Securities Transfer Tax system.
EU
European Union
Ewes
Female sheep
EWP
Examination Without Prejudice
Examination of goods
The physical inspection of goods by the Customs to satisfy themselves that the nature origin, condition, quantity and value of the goods are in accordance with the particulars furnished in the goods declaration.
Exception management
Exception management is the process where documents that do not conform to the requirements of the process within which the exception is identified are resolved or processed.
Exceptional circumstances
This concept is not defined in the Income Tax Act, but it is accepted law that when an Act refers to ‘exceptional circumstances’ it contemplates something out of the ordinary and of an unusual nature. The South African Constitutional Court has held that the lawgiver cannot be expected to prescribe that which is inherently incapable of delineation – if something can be imagined and outlined in advance it is probably because it is not exceptional.
Excisable goods
Any goods specified in Part 2 of Schedule 1 which have been manufactured in South Africa.
Excise Duty
Subject to the provisions of sub-section (3), any duty leviable under Schedule 1 Part 2 on any goods manufactured in South Africa.
EXCO
The Executive Committee of SARS.
Executor
Any person who is authorized to act under letters of executorship granted or signed and sealed by a Master, or under an endorsement made under section 15 of the Administration of Estates Act.
Exempt
An ‘exempt’ item refers to an item which is not subject to tax.
Exempt supplies
Goods and services exempt from VAT and in respect of which no input tax may be claimed.
Exit event
Termination of employment e.g. death, resignation, withdrawal, retirement, retirement due to ill health or winding up of the fund.
Exit Scan
The message reflected on the SARS system when an exit scan has been conducted will read as follow Manifest has successfully been marked for exit.
Export duties and taxes
Customs duties and all other duties, taxes or charges which are collected on or in connection with the exportation of goods, but not including any charges which are limited in amount to the approximate cost of services rendered or collected by the Customs on behalf of another national authority (*). (*) General Annex, Chapter 2 of the revised Kyoto Convention.
Exportation
The act of taking goods out of the country / Customs territory.
Exporter
Includes any person who, at the time of exportation: a) owns any goods exported; b) carries the risk of any goods exported; c) represents or acts as if he / she is the exporter or owner of any goods exported; d) actually takes or attempts to take any goods from South Africa; e) is beneficially interested in any way whatever in any goods exported; f) acts on behalf of any person referred to above and, in relation to imported goods, includes the manufacturer, supplier or shipper of such goods or any person inside or outside South Africa representing or acting on behalf of such manufacturer, supplier or shipper.
EX-works
The full and final price paid for the product delivered outside the factory gate.
F
FAI-001
Tax Clearance Certificate i.r.o Foreign Investment Allowance for Individuals.
FAN
Financial Account Number (An account number for financial purposes allocated by SARS to a trader)
FAQs
Frequently Asked Questions
Farming
Own primary production in agriculture for gain on an agricultural property.
Farming operations
Bona fide farming activities carried on by a farmer, including livestock and produce, but also game and plantation farming, amongst others.
FAS010
A follow-up created 30 days after the date on which an STC payment was journalised to an STC cycle where there is no return information captured.
FAS041
This follow up is programmatically created on IT’S once an IT return has been filed through the eFiling website and manual intervention by the standard or complex business area is required before such assessment can be processed.
FAU001
This follow up is programmatically created on IT’S once the assessment is processed and there is a credit amount greater than the audit limit present on the taxpayers account. This assessment must therefore first be verified (refund screening unit) or audited (audit section) and subsequently approved before the refund will be effected to the taxpayer.
FCL
A container with a full container load, containing goods from one (1) or more exporters to one (1) importer. These containers are delivered to container terminals.
FCL container
A container with a full container load, containing goods from one (1) or more exporters to one (1) importer.
FCL groupage container
A container with a full container load, containing goods from one (1) or more exporter to more than one (1) importer. Such container(s) are sent from the container terminal to the licensed premises of the Associate Groupage Agents in South Africa for unpacking and distribution.
FES
Front end system, such as SARS eFiling, payments at banks and SARSbank.
FF&R
Financial Forecasting and Reporting
FIA
Foreign Investment Allowance
FICA
Financial Intelligence Centre Act
Fiduciary
A person who is entrusted with the financial affairs and management of a Trust or fund, for the benefit of other persons.
FIF
Fundamental investments in the future
FIFA
Federation Internationale de Football Association
FIFO
First-in-First-out
Fillies
Young female horses
Final cash up
This cash up must be performed at the end of the day. Offices must bank daily as required in terms of the PFMA. Only a limited amount of cash must be rolled-over to the following day’s deposit.
Financial account (of the balance of payments)
A statement of all financial transactions between a country and the rest of the world, including portfolio and fixed investment flows and movements in foreign reserves.
Financial and Fiscal Commission
An independent body established in terms of the Constitution to make recommendations to Parliament and provincial legislatures about financial issues affecting the three spheres of government.
Financial hardship
Inability to meet minimum living standards / depriving the tax payer of the ability to maintain minimum living expenses if ignored / or extraordinary circumstances beyond taxpayer’s control.
Financial year
The 12 months according to which companies and organisations budget and account.
Fiscal policy
Fiscal assurance assures that all goods consigned to South Africa or exported therefrom has been lawfully accounted for and all relevant duties and taxes have been paid.
Fiscal policy
Government policy on taxation, spending and borrowing.
Fiscal space
The room in a government’s budget to provide additional programme resources without jeopardising fiscal sustainability.
Fishing vessels
Vessels designed or adapted and used for commercial sea fishing, which are propelled by inboard engines of which the fuel tanks form an integral part of the structure and any dedicated mother ship in which fish is processed.
FM
Financial Manager
FMO
Future Mode of Operation (Siyakha)
FNB
First National Bank
FO
Front office
FO
Finalisation Officer
Foals
Very young, immature male or female horse
FOB
Free on Board
FOBO
Front office-back office
FOR
Duty Tax Type: Provisional payment amounts for Forfeiture.
Foreign diplomatic mission
Includes all embassies and consulates and their respective affiliates with same diplomatic status as well as international organisations and specialised agencies as defined in the DIAP (i.e. Diplomatic Immunities and Privileges) Act.
Foreign direct investment
The acquisition of long-term business interests in another country, usually involving management, technology and financial participation.
Foreign National
An individual who is a citizen of any country other than South Africa.
Foreign Person
Includes individuals, companies, etc.
Foreign Tax Credit
A non-refundable tax credit for income taxes paid to a foreign government as a result of foreign income tax withholdings. The foreign tax credit is available to anyone who either worked in a foreign country or has investment income from a foreign source.
Formal written communication
All written communications on SARS letterheads excluding e-mails.
Founder of a Trust
See Donor of a Trust.
Fourth Schedule
The Fourth Schedule to the Income Tax Act No 58 of 1962.
FPCHR
Transaction code to generate detailed reports on manual outgoing cheques for other refunds.
FPCPL
Transaction code for clarification processing: payment lot.
FRC006
A follow-up created when a payment received by SARS cannot be allocated to the relevant taxpayer’s tax account. It creates this follow-up once the payment is allocated to the IT’S unprocessed payment account. The payment will not form part of the calculation of the balance of the specific tax account of the taxpayer until such time that the payment is allocated to the account of the taxpayer by way of a journal on ITS.
FRE 030
Rejected RCT/PRCT changes
FRE 036
Authorise RCT/PRCT modifications as per the ITS system.
FRE004
This follow-up is programmatically created on ITS when the taxpayers tax record has been reactivated. The portfolio maintenance units therefore need to re-open the taxpayer’s folder.
FRE012
This follow up is programmatically created on ITS when the address unknown indicator is removed from the taxpayers record. The portfolio maintenance units therefore need to action this follow up and update the taxpayer’s tax record.
Free text field
A free text field may include the following: Alphabet A until Z; Upper and Lower Case Characters; Number 0 to 9; Dash (-); Space ( ); Inverted Commas (“”); Back slash(\); Forward slash (/); Question Mark (?); At sign (@); Ampersand (&); Dollar sign ($); Exclamation Mark (!); Hash (#); Plus (+); Equals (=); Semi colon (;); Colon (:); Comma (,); Apostrophe (‘); Left and Right Brackets (( )); Full Stop (.); Characters such as ê, ë etc. All special characters are allowed, however for XML development purposes the following standard must be adhered to: ISO-8859-1 encoding or informally referred to as Latin-1.
Free trade area
Entity formed by the Customs territories of an association of States and having in its ultimate state the following characteristics: – the elimination of Customs duties in respect of products originating in any of the countries of the area, – each State retains its Customs tariff and Customs law, – each State of the area remains autonomous in matters of Customs and economic policy, – trade is based on the application of rules of origin, to take account of the different Customs tariffs and prevent deflection of trade, – the elimination of restrictive regulations of commerce within the free trade area.
Free zone
A part of the territory of a state where any goods introduced are generally regarded, insofar as import duties and taxes are concerned, as being outside Customs territory and are not subject to the usual Customs control.
Freight declaration
See Cargo declaration
Frontier traffic
Importations and exportations carried out by frontier zone inhabitants between two adjacent frontier zones. Notes: 1. Frontier traffic may be subject to special Customs regulations. 2. Customs facilities applicable to frontier traffic are dealt with in Annexes B.8. and D to the Istanbul Convention and in Annex F.3. to the Kyoto Convention of 1974 and Specific Annex J.1 to the revised Kyoto Convention.
Frontier Zone
An area of the Customs territory adjacent to the land frontier, the extent of which is determined in national legislation, and whose limits serve to distinguish frontier traffic from other traffic. Note: This term is defined in Annexes B.8 and D to the Istanbul Convention.
Frontier zone inhabitants
Persons established or resident in a frontier zone. Notes: 1. This term is defined in Annexes B.8 and D to the Istanbul Convention. 2. Both natural and legal persons qualify as frontier zone inhabitants.
FS
Free State
FSB
Financial Services Board
FSC
Forward schedule of change
FTC
Foreign Tax Collection
FTR
Duty Tax Type: Provisional payment amounts for Forfeiture.
FTR
Finalisation Technical Reviewer
FTP
File Transfer Protocol
Fuel Levy
Any duty leviable under the Act, specifically Schedule 1 Part 5, on petroleum products which have been manufactured in or imported into South Africa.
Fuel Levy goods
Any goods specified in Schedule 1 Part 5, except any goods specified in any item of that Part for which a free rate of duty is prescribed as contemplated in Section 37A(1)(a), which have been manufactured in or imported into South Africa.
Full release
This is a release where all the components of the release unit have been built, tested, distributed and implemented together e.g. a complete release of a new version of client desktop software.
Full scope audit
As defined per the Audit Results Policy.
Function
In relation to a computer, includes logic, control arithmetical process, deletion, storage and retrieval and communications or telecommunications from or within a computer.
FYE
Financial Year-End
G
GNWI
Get next work item
Green Channel
The route followed in passing through Customs in an airport, seaport or port of entry by passengers with no dutiable goods to declare.
H
Handover report
E6 in the audit file.
Harmonised system convention (HS)
The expression commonly used to refer to the international Convention of the Harmonized Commodity Description and Coding System, adopted by the Customs Co-operation Council in 1988.
Help-You-eFile
An online solution that will help you complete your individual Income Tax Return (ITR12) by letting a SARS specially trained Contact Centre Agent guide you while you are working online on your eFiling profile. You “share” your screen with our agent who then is able to help you tackle any difficulties you have in completing the tax return.
HIRE
Includes lease or charter
HMRC
Her Majesty’s Revenue and Customs, the Revenue Authority of the United Kingdom.
HNWI
High net worth individuals
Holder of a public office
The president, deputy president, a minister, a deputy minister, a member of the national assembly, a permanent delegate to the national council of provinces, a premier, a member of an executive council or a member of a provincial legislature.
HR
Human Resources
HRA
Human Resources Administrator
HRC
Human Resources Consultant
HRM
Human Resources Manager
I
IACF
Inter-Agency Clearing Forum
IARM
Integrated Account and Revenue Management
IBPS
Integrated Business Processing Systems
IBSA
India-Brazil-South Africa
ICRAS
Integrated Customs Risk Analysis Solution
ICT
Information and Communication Technology
IDB
Income Data Base
ID
Identity Documents
ID-number
The 13 digit identity number indicated in the green bar-coded identity document issued in accordance with the Identification Act, No. 72 of 1986.
Illegible
Difficult or impossible to read.
Illicit economy
The illicit economy ranges from the underground economy, which operates outside of the rules and regulations of the country, to organised crime.
Illicit goods
In relation to imported, exported, excisable goods or fuel levy goods, means any such goods in respect of which any contravention under the Act has been committed and includes any preparation or other product made wholly or in part from spirits or other materials which were illicit goods.
Immovable Property
The term ‘immovable property’ includes an interest of at least 20% in a company where 80% or more of its net value consists of immovable property which is situated in South Africa.
IMO
Interim mode of operation
Impermissible trade
In terms of section 12J(1) ‘impermissible trade’ means: any trade carried on in respect of immovable property, other than a trade carried on as a hotel keeper; any trade carried on by a bank as defined in the Banks Act, 1990 (Act No. 94 of 1990), a long-term insurer as defined in the Long-Term Insurance Act, 1998 (Act No. 52 of 1998), a short term insurer as defined in the Short-Term Insurance Act, 2008 (Act No. 53 of 1998), and any trade carried on in respect of money-lending or hire-purchase financing; any trade carried on in respect of financial or advisory services, including trade in respect of legal services, tax advisory services, stock broking services, management consulting services, auditing or accounting services; any trade carried on in respect of gambling; any trade carried on in respect of liquor, tobacco, arms or ammunition; any trade carried on as a franchisee; or any trade carried on mainly outside the Republic.
Implementation date
The initiation or execution date of a specified project, assignment, venture or endeavour.
Import duties and taxes
Customs duties and all other duties, taxes or charges which are collected on or in connection with the importation of goods, but not including any charges which are limited in amount to the approximate cost of services rendered or collected by the Customs on behalf of another national authority (*) (*) General Annex, Chapter 2 of the Revised Kyoto Convention.
Import Permits
Permission to bring into South Africa goods which are subject to import control. The importation of such goods is restricted, usually as a result of legislation issued by government departments other than SARS.ermission to bring into South Africa goods which are subject to import control. The importation of such goods is restricted, usually as a result of legislation issued by government departments other than SARS.
Import/ Export license (or import/export permit)
Authorization issued by a competent authority for the importation or exportation of goods subject to restriction.
Importation
The act of bringing or causing any goods to be brought into a Customs territory.
Importer
Includes any person who, at the time of importation: a) owns any goods imported; b) carries the risk of any goods imported; c) represents or acts as if he / she is the importer or owner of any goods imported; d) actually brings any goods into South Africa; e) is beneficially interested in any way whatever in any goods imported; f) Acts on behalf of any person referred to above.
In bond
Refer to definition “removal of goods in bond”.
In transit
Refer to definition “removal of goods in transit”.
Individual
The individual user that requires shared access to perform the Trader Representative function.
INCO terms
The vendor’s delivery terms.
Industrial development zone
Designated sites linked to an international air or sea port, supported by incentives to encourage investment in export-oriented manufacturing and job creation.
Inflation targeting
A monetary policy framework intended to achieve price stability over a certain period of time. The SA Reserve Bank and government agree on a target rate or range of inflation to be maintained.
Information
Includes information generated, recorded, sent, received, stored or displayed by any means.
Initiator
Any person who puts forward a business need – may also be the end user.
Inland port
A common user facility, other than a port or an airport or road or rail station, with or without public authority status, equipped with fixed installations and offering services for handling and temporary storage of any kind of goods (including containers) carried under Customs transit (removal in bond) by any applicable mode of transport, placed under Customs control and with Customs and other agencies competent to clear goods for home use, warehousing, temporary admission, re-export, temporary storage, export etc. Such facilities are listed in Rule 200.07, for example the City Deep Terminal in Johannesburg.
Insolvency Practitioner
An insolvency practitioner is someone who is licensed and authorised to act in relation to an insolvent individual, partnership or company.
Inspection
An examination of a particular premises (apart from a dwelling-house or domestic premises not used for trade) in order to determine the identity of the person occupying the premises, whether the person occupying the premises is conducting a trade or an enterprise and is registered for a tax and keeps the required records (Section 45 of the TAA).
Instrument
A paper document to be stamped.
Instrument (WTI)
The instrument giving rise to the interest, e.g. the debt or the investment
Integrated resource plan
Government’s plan to ensure that rising electricity demand is matched by expanded supply.
Intellectual property rights
The following rights : 1. Copyright and related rights; 2. trademarks : any sign, including words, names, letters, numerals, figurative elements and combinations of colours, or combinations of these used by a manufacturer or merchant to identify its goods and distinguish them from those manufactured or sold by others; 3. geographical indications, which identify a good as originating in the territory of a State, or a region or locality in that territory, where a given quality, reputation or other characteristic of the good is essentially attributable to its geographical origin; 4. industrial designs; 5. patents which shall be available for any inventions, whether products or processes, in all fields of technology, provided that they are new, involve an inventive step and are capable of industrial application; 6. layout-design (topographies) of integrated circuits : either a protected layout-design or an integrated circuit in which a protected layout-design is incorporated; 7. protection of undisclosed information such as trade secrets and other business confidential information. Notes: 1. This term is defined by the World Intellectual Property Organization. 2. This is an overall definition, and Customs administrations should refer to the Agreement on the Trade-Related Aspects of Intellectual Property Rights (TRIPS), including trade in counterfeit goods, in their application of legislation relating to intellectual property rights.
Interim reconciliation process
An administrative process at a specific point in time which is not subject to the same legal requirements (e.g. Issuing an Employees’ Tax certificate to an employee, etc.) as those which are applied at the end of the Employer’s tax period or the end of the tax year.
Intermediary
With respect to any particular electronic message, means any person who on behalf of another person receives, stores or transmits that message or provides any services with respect to that message.
Internal traffic
The carriage of persons embarked or goods loaded in the Customs territory for disembarkation or unloading within the same Customs territory. Notes: 1. The term ‘internal transport’ is also used with the same meaning. 2. Means of transport under a temporary admission procedure may be used in internal traffic, as provided for by the Customs Convention on Containers, 1972, and the Istanbul Convention (Annexes B.3. and C).
Inter vivos
An ‘inter vivos Trust’ is created during the lifetime of a person by way of an agreement (contract) between the founder and the trustee(s) for the benefit of the beneficiaries.
Inward processing
The Customs procedure under which certain goods can be brought into a Customs territory conditionally relieved from payment of import duties and taxes, on the basis that such goods are intended for manufacturing, processing or repair and subsequent exportation. This facility is provided for in the Act in the form of rebate provisions which can be found in Schedule 4.
iOS
Internetwork Operating System
IPSP
Insolvency Practitioners Selection Panel
IRD
Inland Revenue Department of New Zealand
IRP5
Refers to an Employee Tax certificate which reflects remuneration received, certain deductions and Employees’ Tax deducted or withheld during the period of employment in a particular tax year.
IRP6
An IRP6 is a return for payment of provisional tax.
IRS
Internal Revenue Service of the United States of America.
Issuing association
An association which is approved by the Customs authorities to issue ATA, CPD or TIR carnets and which is affiliated directly or indirectly to a guaranteeing chain. Notes: 1. There is a link between the terms “Guaranteeing chain”, “Guaranteeing association” and “Issuing association”. 2. The issuing association must be approved by the Customs authorities of the Contracting Party on whose territory it is established.
Istanbul convention
The expression commonly used to refer to the Convention on temporary admission, adopted by the Customs Co-operation Council in Istanbul in 1990.
ISV
Independent Software Vendor
IT
Income Tax
IT
Information Technology (relating to computers and systems).
IT Act
The Income Tax Act No.58 of 1962.
IT No.
Income tax number
IT88
Process to appoint a third party as an agent
ITR14
Income Tax Return for Companies and Close Corporations.
IT144
A donation declaration form.
IT21(a)
Application for a Tax Clearance Certificate in respect of citizens emigrating from South Africa.
IT56
Return for payment of Secondary Tax on Companies.
ITA34
Income Tax Assessment Notice
ITA88 Agent Appointment
Where a taxpayer fails to pay the penalty assessments by the specified due date, SARS will appoint their employer or anyone in control of their funds to act as an agent in terms of section 99 of the Income Tax Act.
ITAC
The International Trade Administration Commission established by Section 7 of the International Trade Administration Act No. 71 of 2001.
ITC
Information Trust Corporation
ITIL
Information Technology Infrastructure Library.
ITO
In terms of
ITR12
An ITR12 is an annual income tax return for an individual.
ITR12T
An annual income tax return for a trust.
ITREG
An electronic record containing all of the Employee Tax Certificate details for purposes of registering an employee for income tax.
ITRR
An ITRR is a request for an income tax return (ITR12) and is used to personalise the containers that will appear in the ITR12. The online version of the ITRR is actually known as the “tax return wizard”.
ITS
Income Tax System
ITS swapped
This refers to when a taxpayer requests an uncrossed cheque, by means of a single crossed manual cheque. These manual cheques only apply to income tax refunds for individuals. The data cheque will be cancelled and a manual cheque will be issued. This is a type of a replacement cheque.
ITSA
Income Tax Statement of Account
IVR
Integrated Voice Recognition
J
Jacks
Male donkeys
JAD
Joint Application Design
JCPS
Justice, Crime, Prevention and Security
JD
Job Description
Jennies
Female donkeys
Jeopardy assessment
An assessment raised by SARS (in terms of section 94 of the TAA) before the date on which the return is normally due, where the collection of tax could be at risk. SARS (on whom the burden of proof falls) must have reasonable grounds to raise a jeopardy assessment.
Johannesburg convention
The expression commonly used to refer to the International Convention on Mutual Administrative Assistance in Customs Matters, adopted by the Customs Co-operation Council in Brussels in 2003.
Joint venture
An association of persons who choose to enter into a venture or scheme for purposes of sharing expertise, skills and knowledge, and of sharing property and capital to ultimately minimize risks, increase organisational stature and secure a more competitive advantage in the market.
JOURNAL
Re-allocation of payment from one SARS account to another by way of a double entry.
JRNLAPP
This function is used to approve, enquire, cancel, view balance of account or reprint simulated journals.
JRNLPRNT
This function can be used to enquire or reprint an approved journal transaction.
JRNLSIM
This function is used to simulate a journal transaction without effecting the change on the account.
JSE
Refers to “JSE Limited”, previously known as the “JSE Securities Exchange” and the “Johannesburg Stock Exchange”. It is South Africa’s (and Africa’s) largest stock exchange, and the 19th largest in the world. It is based in Johannesburg’s financial hub of Sandton and provides a market where various securities can be freely traded under standardised and controlled processes.
Juristic person
Artificially created entities such as a company and trust.
K
KPE
Kopano Payments Engine
KPI
Key Performance Indicator
KPMG
One of the world’s big four accountancy firms. Offers audit, tax and advisory services.
Kyoto convention
The expression commonly used to refer to the “International Convention on the Simplification and Harmonization of Customs Procedures” adopted by the Customs Co-operation Council in Kyoto in 1973.
KZN
KwaZulu-Natal
L
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.
Land
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.
LAPD
Refers to SARS’ Legal and Policy division.
LBC
Refers to SARS’ Large Business Centre.
LBG
Land border gate
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.
LD&FO
Landing, delivery order and/or forwarding order
LEAP
Leadership Effectiveness Advanced Programme.
Legal Entity
The legal entity that is liable for the various tax products associated with it. This can be an individual, a company, a trust, etc. Taxpayer is another term to use.
LEGIBLE
Written or printed words clear enough to read.
LEI
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.
Levied
The imposition or collection of a tax.
Liable
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.
Liquidation
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.
Liquidator
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).
LLT
Loose Leaf Tariff System
LOA
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.
LRN
Local Reference Number
LRP
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.
M
Manage sourcing
The identification, evaluation and selection, and approval of suppliers of products and/or services.
Mandatory fields
Fields (for example, of a tax return) that must be completed as a rule, with no option to disregard.
Manifest
See definition “cargo manifest”.
Manual employer
Refers to an employer who completes EMP 501 reconciliations and employee tax certificates manually, and does not create this information electronically (i.e. with a PC which makes use of SARS e@syfile software).
Mares
Female adult horses
Marketable security
Any security, stock, debenture, share, option or other interest capable of being sold in a share-market or exchange or otherwise.
MAS
Manifest Acquittal System
Master
In relation to any ship, means any person (other than a pilot) having charge of such ship.
Master of the High Court
Master in relation to any matter, property or estate, means the Master, Deputy Master or Assistant Master of a High Court, who has jurisdiction in respect of that matter, property or estate and who is subject to the control, direction and supervision of the Chief Master.
MCC
Manual Case Creation
MCS
Movement Control System
Means of transport for commercial use
Any vessel (including lighters and barges, whether or not shipborne, and hydrofoils), hovercraft, aircraft, road vehicle (including trailers, semi-trailers and combinations of vehicles) or railway rolling stock, which is used for the transport of persons for remuneration or for the industrial or commercial transport of goods, whether or not for remuneration. Notes: 1. Customs formalities applicable to means of transport for commercial use are dealt with in Annex A.3. to the Kyoto Convention of 1974 and Specific Annex J, Chapter 3 of the revised Kyoto Convention. Those Annexes cover means of transport for commercial use which are used in international traffic. The definition of “means of transport for commercial use” in those Annexes includes normal spare parts, accessories and equipment, as well as lubrication oils and fuel contained in the normal tanks, when carried with the means of transport for commercial use. 2. In some countries, the term “conveyance” is used with the same meaning as “means of transport for commercial use” . 3. See Commentary 3 to Article 1, Annex C of the Istanbul Convention.
Means of transport for private use
Road vehicles and trailers, boats and aircraft, together with their spare parts and normal accessories and equipment, imported or exported exclusively for personal use by the person concerned and not for the transport of persons for remuneration or the industrial or commercial transport of goods, whether or not for remuneration. Note: Customs facilities applicable to means of transport for private use are dealt with in Annex F.3. to the Kyoto Convention of 1974 and in Specific Annex J, Chapter 1 of the revised Kyoto Convention. These Annexes cover private means of transport which are imported or exported by travellers.
Medical Expenses (out-of-pocket)
Are expenses actually paid, and not covered by a medical scheme and where proof of payment (e.g. receipts) can be produced, if asked for.
Medium-term Expenditure Committee (MTEC)
The technical committee responsible for evaluating the Medium-term Expenditure Framework (MTEF) budget submissions of national departments and recommending allocations.
Medium-term expenditure framework (MTEF)
The three-year spending plans of national and provincial governments published at the time of the Budget.
MFD
Multi-Functional Device
MFN
Most favoured nation refers to the application of the general rate of Customs duty.
MGL
Making Great Leaders, a leadership development programme.
MIDP
Motor Industry Development Programme
Mini cash up
Mini cash up may be performed when the amount received reaches a level that warrants banking. The offices have discretion as to the amount that can be receipted before it needs to be banked, but not more than R100 000 cash can be deposited at a time.
Mining
The exploration or prospecting for minerals or the removal of overburden and other activities’ undertaken in the preparation of a site to enable mining for minerals to commence. Can also be the operation for the recovery (mining) of minerals including the recovery of salts or the beneficiation of those minerals or of ores bearing those minerals.
Minister
The Minister of Finance
Mobi App
Mobile Application
Mod check
Modulus check. This verification method tests the validity of the taxpayer’s reference number. It is an automated verification method.
Money laundering
Money laundering is the process by which the illegal source of proceeds is concealed by means of financial transactions or any other means to make them appear legitimate.
Money supply
The total stock of money in an economy.
Month
In relation to an employer, for taxable benefit purposes, means any twelve portions into which any calendar year is divided.
Mora interest
Mora can be defined as the failure of the debtor, SARS in this case, to perform on time. Mora can only occur where performance remains possible in spite of delay.
Mortis causa
Mortis causa (testamentary) trust is set up in terms of the will of a person and comes into effect after their death.
MOU
Memorandum of Understanding
MPRDA
Mineral and Petroleum Resources Development Act
MPRR
Mineral and Petroleum Resources Royalty
MRN
Movement Reference Number
MRP
Manual Reconciliation Process
MTBPS
Medium Term Budget Policy Statement
MTU
Mobile Tax Unit
Mules
The male or female offspring of a mare-jack coupling
Mutatis mutandis
Can be interpreted as ‘the necessary changes having been made’.
Mutual administrative assistance
Measures taken by a Customs administration on behalf of or in collaboration with another Customs administration for the proper application of Customs law and for the prevention, investigation and repression of Customs offences.
