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Revenue Laws Amendment Act (No. 45 of 2003)

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To amend the Transfer Duty Act, 1949, so as to further regulate the provisionsrelating to duty on conversion of share blocks to sectional titles and duty payableon cancellation of transactions; to provide for an exemption for conversion orrenewal of certain mineral and mining rights and permits and further regulateother exemptions; to provide for additional powers to the Commissioner; tofurther regulate duty on sale of property to agents; to provide for additional dutyfor failure to perform any duties; and to provide that payment of duty is notsuspended pending appeal; to amend the Estate Duty Act, 1955, so as to effectcertain consequential amendments; to amend the Income Tax Act, 1962, so as toamend, insert and delete certain definitions; to further regulate the powers of theCommissioner; to further regulate the secrecy provisions; to further regulate theprovisions relating to foreign tax credits; to provide relief where assets disposed ofare replaced; to further regulate the provisions relating to income from foreignsources and foreign dividends; to further regulate the provisions relating tocontrolled foreign companies; to further regulate the exemption provisions; toamend the provisions relating to certain deductions and allowances; to provide forthe ring-fencing of losses from certain trades; to further regulate the provisionsrelating to trading stock; to further regulate the provisions relating to thelimitation of deductions; to further regulate the provisions relating to exchangeitems; to amend the provisions relating to insolvent estates; to further regulate theprovisions relating to public benefit organisations anddeductibilityof donations tothese organisations and government; to make provision fordisposalsof assets bynon-resident persons; to further regulate provisions relating to payment ofwithholding tax on royalties; to further regulate the provisions relating tocorporate restructuring; to grant a further exemption from donations tax; tofurther regulate the provisions relating to secondary tax on companies; to furtherregulate the provisions relating to submission of returns and assessment; tospecifically provide for the registration of taxpayers; to provide for reporting ofcertain reportable arrangements; to further regulate the provisions relating toobjections, appeals and dispute resolution; to provide that the Commissioner mayprescribe a time on a date for payment of tax, penalties and interest; to furtherregulate the deduction of capital expenditure for farming; to provide thatpensionable service of non-statutory force members purchased after 1 March 1998in respect of periods of service accounted for before that date be dealt with as is thecase with other public servants; to further regulate the penalties on failure to payemployees' tax and personal liability in relation thereto; to further regulate thededuction of employees' tax from directors' remuneration; to further regulate theprovisions relating to capital gains tax; to delete certain obsolete provisions and toeffectcertain consequential amendments; to amend the Customs and Excise Act, 1964, so as to insert certain definitions; to further regulate the powers of theCommissioner; to further regulate the provisions relating to secrecy; to insertprovisions relating todegrouping;to make provision for the imposition ofenvironmental levies; to make rules to enable the Commissioner to curtail thesmuggling of cigarettes; to further regulate the provisions relating to internalappeals and alternative dispute resolution; to make provision for certainconsequential changes arising from the introduction of the duty at source system;to make provision in the Act for customs controlled areas within IndustrialDevelopment Zones; to effect certain consequential amendments; to amend theStamp Duties Act, 1968, so as to further regulate the period for record keeping; tofurther regulate the powers of the Commissioner; to further regulate theexemptions from duty; to effect certain consequential amendments and to deletereferences to obsolete provisions; to amend the Value-Added Tax Act, 1991, so as toamend and insert certain definitions; to provide for certain exemptions andzero-rating; to further regulate the circumstances where an input tax may beclaimed; to prescribe further requirements for VAT invoices; to further regulatethe provisions relating to assessments; to further regulate the provisions relating toobjections and appeal and dispute resolution; to provide for the amendment of theSchedules in line with the Customs and Excise Act, 1964, to effect certainconsequential amendments; to amend theUncertificatedSecurities Tax Act, 1998,so as to amend and insert certain definitions; to further regulate the exemptionsfrom tax; to effect consequential changes to the repeal of the Marketable SecuritiesTax Act, 1948; to further regulate the powers of the Commissioner; to effect certainconsequential amendments; to make provision for the retention of records; toamend the Skills Development Levies Act, 1999, so as to further regulate theprovisions relating to public benefit organisations; to provide for penalties forfailure to pay levies; to amend the Taxation Laws Amendment Act, 2000, so as tofurther regulate certain exemptions of public benefit organisations and otherentities; to amend the Second Revenue Laws Amendment Act, 2001, so as to insertprovisions relating to Industrial Development Zones; to effect certain consequen-tial amendments; to amend the Unemployment Insurance Contributions Act, 2002,so as to align it with the Unemployment Insurance Act, 2001; to amend theTaxation Laws Amendment Act, 2002, so as to repeal certain obsolete provisions; toamend the Revenue Laws Amendment Act, 2002. so as to insert a commencementdate; and to delete obsolete provisions; to amend the Exchange Control Amnestyand Amendment of Taxation Laws Act, 2003, so as to amend certain definitions; tomake provision for application by beneficiaries; to further regulate the tax relief interms of the amnesty; and to extend the date for application; to repeal theMarketable Securities Tax Act, 1948, and certain regulations; to provide fortransitional provisions relating to gold bullion and shares of companies acquiredfrom funds transferred to the Republic; to provide for a sho

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