(1)
| (a) | A registered person must submit a return and payment as contemplated in section 5 to reach any office designated by the Commissioner by rule made under section 18 during the hours of business prescribed by the Commissioner by rule under the Customs and Excise Act, 1964, within a period of 30 days after the ending date of each assessment period described in subsection (2), but not later than the penultimate business day of that period. |
[Paragraph (a) amended by section 20 of Act No. 13 of 2017]
| (b) | For the purposes of subsection (1)(a), "business day" means any day which is not a Saturday, Sunday or public holiday. |
| (2) | For purposes of this Act, each registered person's assessment period— |
| (a) | in the case of a natural person— |
| (i) | begins on 1 March and ends on 31 August; and |
| (ii) | begins on 1 September and ends on the last day of February; and |
| (b) | in the case of any other person— |
| (i) | begins on the first day of the financial year for which financial accounts are prepared and ends six calendar months after that day; and |
| (ii) | begins on the following day immediately after the period described in subparagraph (i) and ends on the last day of that financial year, and if any financial year begins on any day other than the first day of a calendar month, the financial year will be deemed to begin on the first day of that month. |
| (3) | The Commissioner may make rules in respect of circumstances when an assessment period may be shorter or longer than six months. |
