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Taxation Laws Amendment Act 136 of 1991

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136 of 1991

The Taxation Laws Amendment Act 136 of 1991 intends:

  • to amend the Marketable Securities Tax Act, 1948 [repealed in 2003], so as to decrease the rate of tax payable in respect of the purchase of marketable securities;
  • to amend the Estate Duty Act, 1955, so as to provide further for the value for estate duty purposes of fiduciary, usufructuary or other like interests in property;
  • to amend the Income Tax Act, 1962, so as
    • to apply certain provisions of that Act where a beneficiation process is carried on; and
    • to provide for the imposition of a levy in respect of rmancial services;
  • to amend the Stamp Duties Act, 1968, so as
    • to empower the Commissioner for Inland Revenue to authorize certain persons to pay duty by means of the issue of. a special receipt;
    • to alter the provisions relating to the imposition of stamp duty in terms of Item 15( 4) of Schedule 1;
    • to make provision for exemption from stamp duty in respect of the original issue of shares in certain circumstances; and
    • to decrease the stamp duty tariffs in respect of certain Items; 
  • to amend the Sales Tax Act, 1978 [repealed in 1991], so as
    • to further define certain expressions; to further regulate a certain exemption from sales tax;
    • to provide that there shall be a tax period ending on the day before the commencement date of the value-added tax;
    • to further regulate the circumstances in which any penalty on assessment may be remitted;
    • to make new provision relating to evidence as to assessments having been made and as to the correctness thereof; and
    • to amend Schedules 1, 2, 3, 5 and 7 to the said Act;
  • to amend the Value-Added Tax Act, 1991, so as
    • to further define certain expressions;
    • to fix a tax rate;
    • to make further provision in respect of supplies of goods and services by local authorities, the supply of goods in respect of which a deduction of input tax was denied, the supply of goods or services held or used partly for making taxable supplies, the time of supply and value of goods and services, the application of a zero rate in respect of certain supplies, the exemption in respect of certain transport services, the denial of the deduction of input tax, the adjustments in respect of changes in use or consumption of goods or services, and the tax periods of vendors;
    • so as to provide for certain appeals to be heard by a board;
    • to make further provision in respect of pooling arrangements and penalty or interest in respect of certain late payments of tax;
    • to include certain market agents in the provisions relating to auctioneers;
    • to provide that increases or decreases of tax be taken into account in respect of certain fees, charges or other amounts fixed by law;
    • to alter the provisions relating to certain international agreements;
    • to empower the Minister of Finance during a limited period to amend the said Act;
    • to further provide for transitional matters;
    • to amend Schedules 1 and 2 to the said Act; and
    • to make certain textual changes;
    • to repeal sections 10 to 20 of this Act; and
  • to provide for matters connected therewith.


  • 17 Jul 1991, unless otherwise indicated in the Act or by Proclamation (Gazette 17617 of 22 November 1996)
  • 25 October 1996, Sections 35 (1) and 36 (1) (Gazette 17617 of 22 November 1996)
  • 12 September 1991, Section 3(1) (Gazette 13522 of 12 September 1991)