Examples of SARS Act in a sentence
In terms of the SARS Act, 1997, the Commissioner for SARS is the Chief Executive Officer and Accounting Authority of SARS.
SARS Act, 1997, Part Three, Section 13 (2d).poorly designed governance mechanisms.
Established under the SARS Act as an autonomous agency, SARS is responsible for administering the South African tax system and customs service.
In terms of section 5(1) of the SARS Act, SARS may do all that is necessary to perform its functions properly including engaging in any activity whether alone or together with other organisations in the Republic or elsewhere, to promote proper, efficient and effective tax administration, including customs and excise duty administration,16 and may do anything that is incidental to the exercise of any of its powers.17 Schedule 1 of the SARS Act lists the various laws which are to be administered by SARS.
To achieve these objectives section 4(1)(a) of the SARS Act provides that SARS must ensure that the national legislation listed in Schedule 1 be enforced.
At the time when the unit was established in 2007, the national legislation listed in Schedule 1 of the SARS Act included: (i) The Customs and Excise Act.19 (ii) The Income Tax Act20 (before its amendment by the Tax Administration Act); and (iii) The Value Added Tax Act21 (before its amendment by the Tax Administration Act).
The Lender’s delay in exercising any of its rights is not a waiver of such rights.
We share a vision, and a determination to make it reality.Pravin Gordhan Commissioner Corporate governance and risk management The following reflects SARS compliance with governance requirements: SARS external governance frameworkThe SARS external governance framework is primarily determined through two pieces of legislation, namely the SARS Act, as amended, and the Public Finance Management Act.
In terms of the SARS Act, 1997, the Commissioner for South African Revenue Service is the Chief Executive Officer and Accounting Authority of SARS.
Principal activitiesThe SARS Act, 1997, gives the entity the mandate to perform the following tasks:• Collect all revenues that are due• Ensure maximum compliance with the legislation it administers• Provide a customs service that will maximise revenue collection, protect our borders as well as facilitate trade SARS Accounting Authority’s report (continued)for the year ended 31 March 2004 5.