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Thread: Penalties, Interest & Tax -- from May 2008 now only brought to light by SARS

  1. #11
    Site Caretaker Dave A's Avatar
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    The 15 year prescription period applies to

    any debt in respect of any taxation imposed or levied by or under any law;
    so I expect municipal rates is included under that.

  2. #12
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    Quote Originally Posted by BusNavig8 View Post
    Didnt know I had to be so technical!

    I was referring in line with the thread in terms of an ADR. The basis in which the objection committee will make its ruling on whether there was a loss to the fiscus and how much was that loss. In this case it was merely a day and then compound interest from there. The fact that penalties and interest are first taken into account is a given as that is the practice at SARS, it will not be the basis of the motovation.

    Actually any objection/ADR process can only be done within 3 years from the date the assessment was issued. Therefore a motivation as to why it was outside of this timeframe will also have to be made ( Being why I asked the questions in my earlier posting)

    That is why I offered to assist. If there is one thing I know its SARS procedure and systems.
    I would greatly appreciate your assistance in this regard... any fee involved?

  3. #13
    Email problem BusNavig8's Avatar
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    Im a tad confused about this 15 years or the 30 years - this taken from the Prescription Act 68 of 1969 as amended:

    11 Periods of prescription of debts
    The periods of prescription of debts shall be the following:
    (a) thirty years in respect of-
    (i) any debt secured by mortgage bond;
    (ii) any judgment debt;
    (iii) any debt in respect of any taxation imposed or levied by or under any law;
    (iv) any debt owed to the State in respect of any share of the profits, royalties or
    any similar consideration payable in respect of the right to mine minerals or
    other substances;
    (b) fifteen years in respect of any debt owed to the State and arising out of an advance
    or loan of money or a sale or lease of land by the State to the debtor, unless a
    longer period applies in respect of the debt in question in terms of paragraph (a);
    (c) six years in respect of a debt arising from a bill of exchange or other negotiable
    instrument or from a notarial contract, unless a longer period applies in respect of
    the debt in question in terms of paragraph (a) or (b);
    (d) save where an Act of Parliament provides otherwise, three years in respect of any
    other debt.

    Which way do you interpret it to be ?

  4. Thanks given for this post:

    Dave A (07-Mar-12)

  5. #14
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    Quote Originally Posted by nichoalscfm View Post
    I would greatly appreciate your assistance in this regard... any fee involved?
    Nah, Love me job! would be pleased to help, you just need to do it with haste! PM me

  6. #15
    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by BusNavig8 View Post
    Im a tad confused about this 15 years or the 30 years - this taken from the Prescription Act 68 of 1969 as amended:

    11 Periods of prescription of debts
    The periods of prescription of debts shall be the following:
    (a) thirty years in respect of-
    (i) any debt secured by mortgage bond;
    (ii) any judgment debt;
    (iii) any debt in respect of any taxation imposed or levied by or under any law;
    (iv) any debt owed to the State in respect of any share of the profits, royalties or
    any similar consideration payable in respect of the right to mine minerals or
    other substances;
    30 years on taxes it would be, then.

    I was relying on a post about prescription here. I suspect copy and paste problems.

    Given the search popularity of that thread, I think I'm going to take the liberty of correcting the post.

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    Quote Originally Posted by BusNavig8 View Post
    Nah, Love me job! would be pleased to help, you just need to do it with haste! PM me
    PM me means what exactly? Sorry for my naivety!!

  8. #17
    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by nichoalscfm View Post
    PM me means what exactly? Sorry for my naivety!!
    It means use the private messaging system of the website. The quickest way is to click on the username in the profile which gives some short cuts:

    Click image for larger version. 

Name:	pm-me.JPG 
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ID:	2418

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