Public Finance Management Act, 1999 (Act No. 1 of 1999)Chapter 2 : National Treasury and National Revenue FundPart 2: National Revenue Fund12. Deposits and withdrawals by South African Revenue Services in Revenue Funds |
| (1) | The South African Revenue Services must promptly deposit into a Revenue Fund all taxes, levies, duties, fees and other moneys collected by it for that Revenue Fund, in accordance with a framework determined by the National Treasury. |
| (2) | The South African Revenue Services may, despite section 15(1), withdraw money from the National Revenue Fund— |
| (a) | to refund any tax, levy or duty credits or any other charges in connection with taxes. levies or duties; |
| (b) | to make other refunds approved by the National Treasury; or |
| (c) | to transfer to a member of the South African Customs Union any money collected on its behalf. |
| (3) | The National Treasury must promptly transfer all taxes, levies, duties, fees and other moneys collected by the South African Revenue Services for a province and deposited into the National Revenue Fund, to that province's Provincial Revenue Fund. |
| (4) | Withdrawals in terms of subsection (2) or (3) are direct charges against the National Revenue Fund. |