Tax Administration Act, 2011 (Act No. 28 of 2011)Chapter 4 : Returns and RecordsPart B : Reportable arrangements37. Disclosure obligation |
| (1) | The information referred to in section 38 in respect of a reportable arrangement must be disclosed by a person who— |
| (a) | is a 'participant' in an 'arrangement' on the date on which it qualifies as a 'reportable arrangement, within 45 business days after that date; or |
| (b) | becomes a 'participant' in an 'arrangement' after the date on which it qualifies as a 'reportable arrangement', within 45 business days after becoming a 'participant'. |
[Section 37(1) substituted by section 43(1)(a) of Act No. 44 of 2014]
| (2) | [Section 37(2) deleted by section 43(1)(a) of Act No. 44 of 2014] |
| (3) | A "participant" need not disclose the information if the "participant" obtains a written statement from any other "participant" that the other "participant" has disclosed the "reportable arrangement". |
[Section 37(3) substituted by section 43(1)(a) of the Tax Administration Laws Amendment Act, 2014 (Act No. 44 of 2014)]
| (4) | [Section 37(4) substituted by section 43(1)(b) of Act No. 44 of 2014] |
| (5) | SARS may grant extension for disclosure for a further 45 business days, if reasonable grounds exist for the extension. |