Files
| Attachment | Size |
|---|---|
| act97of1993.pdf | 1.92 MB |
97 of 1993
The Taxation Laws Amendment Act 97 of 1993 intends:
- to amend the Marketable Securities Tax Act, 1948 [repealed in 2003], so as
- to provide for an exemption; and
- to provide for the manner in which payments are to be allocated;
- to amend the Transfer Duty Act, 1949, so as
- to amend the rates of transfer duty;
- to provide for certain exemptions and to withdraw certain other exemptions; and
- to provide for the manner in which payments are to be allocated;
- to amend the Estate Duty Act, 1955, so as
- to insert or delete certain definitions and to further define a certain expression;
- to delete certain provisions relating to family companies;
- to provide for certain deductions;
- to provide for the valuation of members' interests in close corporations;
- to make certain decisions of the Commissioner subject to objection and appeal;
- to make provision for the manner in which payments are to be allocated; and
- to increase the penalties in respect of certain offences;
- to amend the Stamp Duties Act, 1968, so as
- to provide for certain exemptions and to withdraw others;
- to regulate the levying and manner of payment of stamp duty on certain insurance policies;
- to provide for the manner in which payments are to be allocated;
- to abolish stamp duty on certain agreements and contracts; and to make certain textual alterations;
- to amend the Regional Services Councils Act, 1985, so as to amend the definition of "person";
- to amend the KwaZulu and Natal Joint Services Act, 1990, so as to amend the definition of "person";
- to amend the Value-Added Tax Act, 1991, so as
- to further define certain expressions;
- to increase the tax rate;
- to provide for certain exemptions;
- to extend the provisions relating to a branch of an enterprise situated outside the Republic to a vendor's main business when so situated;
- to increase from R200 to R500 the maximum amount of consideration in respect of which a simplified tax invoice may be issued;
- to reduce from R100 to R10 the amount in respect of which a refund of tax is not automatic;
- to create an offence relating to inadequate records and the failure to retain records;
- to create offences relating to the fraudulent issuing, making, furnishing or using of tax invoices, debit notes, credit notes, bills of entry or other documents;
- to provide that the surrender of certain diplomatic tax relief certificates may be required;
- to make further or other provision in respect of the circumstances in which the supply of goods is deemed to be otherwise than in the course or furtherance of an enterprise, the input tax allowable to a share block company, the time of supply of fixed property, the value of goods or services supplied. between connected persons, the exemption in respect of the supply of management services to members by certain bodies corporate or share block companies, the calculation of tax, the deductions permissible in respect of input tax, liability for tax in respect of past supplies or importations, the retention of records by vendors and the application of the tax rate when that rate is increased or reduced; and
- to effect certain textual alterations;
- to provide for a once-off exemption from stamp duty in respect of the issue of shares by Cape Mohair (Holdings) Limited; and
- to provide for matters connected therewith.
Commencement
9 July 1993
