Income Tax Act, 1962 (Act No. 58 of 1962)Notices2010 NoticesVoluntary Disclosure Programme and Taxation Laws Second Amendment Act, 2010 (Act No. 8 of 2010)4. Requirements for valid voluntary disclosure |
The requirements for a valid voluntary disclosure are that the disclosure must—
| (a) | be voluntary; |
| (b) | involve a default; |
| (c) | be full and complete in all material respects; |
| (d) | involve the potential application of a penalty or additional tax in respect of the default; |
| (e) | not result in a refund due by the Commissioner; |
| (f) | be made in the prescribed form and manner; |
| (g) | be made within the period prescribed by the Commissioner by notice in the Gazette; and |
| (h) | be in respect of a default which occurred prior to 17 February 2010. |