Electronic form of record keeping in terms of section 30(1)(b) of the Tax Administration Act, 2011
The draft notice prescribes the electronic form in which records, books of account and documents that are required to be kept or retained in terms of section 29 of the Tax Administration Act, 2011, must be held. The due date for public comment is 25 June 2021.
Section 29 of the Tax Administration Act, 2011 prescribes that a person must keep the record, books of account, or documents that (i) enable the person to observe the requirements of a tax Act; (ii) are specifically required under a tax Act or by the Commissioner by public notice; and (iii) enable SARS to be satisfied that the person has observed these requirements.
The draft notice is ancillary to the above and prescribes the electronic format in which the records should be maintained.
Public comments may be submitted to ACollins@sars.gov.za by 25 June 2021.
Find a copy of the draft public notice here.
Find a copy of the draft declaration for electronic form of record keeping here.
18/06/2021