The Tax Administration Act makes provision for an order to be made for the preservation of the assets of a taxpayer or another person. This case considers whether the “other person”, as referred to, would include Zimbabwean residents which paid funds to an entity (the taxpayer) to acquire a South African property, and whether such property could be subject to a preservation order.
Section 1 of the Tax Administration Act No 28 of 2011, (the TA Act), defines a “business day” to mean a day which is not a Saturday, Sunday or public holiday, and for the purposes of determining the days or a period allowed for complying with the provisions of Chapter 9, excludes the days between 16 December of each year and 15 January of the following year, both days inclusive.
SARS has released a media statement indicating that it will apply for leave to appeal the judgement in the Arena Holdings matter in which SARS was ordered to turn over the tax records of former president Zuma to Financial Mail.
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