Income Tax Act, 1962 (Act No. 58 of 1962)

Regulations

2007 Regulations

Regulations issued under Section 91A, prescribing the circumstances under which the Commissioner may write-off or compromise any amount of tax, duty, levy, charge, interest, penalty or other amount

Part 5: Compromise of tax debt

13. Procedure for compromise of tax debt
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(1)If the Commissioner compromises a tax debt, the Commissioner and debtor must sign an agreement setting out—
(a)the amount payable by the debtor in full satisfaction of the debt;
(b)the undertaking by the Commissioner not to pursue recovery of the balance of the tax debt; and
(c)all other conditions subject to which the tax debt is compromised by the Commissioner, which may include a requirement that the debtor must comply with subsequent obligations imposed in terms of any Act administered by the Commissioner.