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)7. Voluntary disclosure agreement |
| (1) | The granting of the relief under section 6 must be evidenced by a written agreement between the Commissioner and the applicant who is liable for the outstanding tax. |
| (2) | The agreement must be in the format prescribed by the Commissioner and must include details of— |
| (a) | the material facts of the default on which the voluntary disclosure relief is based; |
| (b) | the amount payable by the person, which amount must separately reflect the tax payable and the interest amount payable, if any; |
| (c) | the arrangements and dates for payment; |
| (d) | treatment of the issue in future years or periods; and |
| (e) | relevant undertakings by the parties. |