Tax Administration Act, 2011 (Act No. 28 of 2011)

Notices

Duty to Keep the Records, Books of Account or Documents in terms of Section 29 and in the form in terms of Section 30 of the Tax Administration Act, 2011 (Act No. 28 of 2011)

1. General
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Any term or expression contained in this notice to which a meaning has been assigned in a "tax Act" as defined in section 1 of the Tax Administration Act, 2011, or the intergovernmental agreement between the Republic and the United States of America to improve international tax compliance and to implement the FATCA, has the meaning so assigned, unless the context indicates otherwise, and the following terms have the following meaning:

 

"AEOI"

means automatic exchange of information;

 

"BRS"

means business requirement specification;

 
"FATCA"

means the US Foreign Account Tax Compliance Act;

 

"intergovernmental agreement"

means the intergovernmental agreement between the Republic and the United States of America to improve international tax compliance and to implement the FATCA; and

 

"reporting financial institution"

means a reporting financial institution as defined in the intergovernmental agreement.