The Minister of Finance, Mr. Trevor A. Manuel, MP, today tabled the Taxation Laws Amendment Bill in Parliament.
Among the tax proposals contained in the Bill is the request to the legislature to extend the window period of the Small Business Tax Amnesty by one month to 30 June 2007.
I am pleased to announce that the South African Revenue Service (SARS) had received than 275 398 amnesty applications from small businesses by Saturday 2 June 2007.
From the experience over the last two weeks - during which an additional 2 days were allowed for submissions - and from interviews conducted with applicants, it became clear that many businesses wanted to become tax compliant and make their entities legal.
I also met 5 organisations on Monday this week who presented their case for requesting an extension. Those businesses that could not make the initial deadline will benefit from a short extension.
The Bill that was tabled today proposes a one month extension to the amnesty process until 30 June 2007. SARS will also be permitted to allow applicants time until 31 August 2007 to submit all documents supporting their amnesty applications.
It must be emphasized that the extension is granted from a position of strength. The response to the amnesty has been overwhelming and staff at SARS must be complimented for the way in which they administered the amnesty.
The challenge now is for business leaders and representative organizations to demonstrate that they can deliver increased numbers of applications.
Introductory speech by the Minister of Finance - Taxation Laws Amendment Bill, 7 June 2007ENDS
ISSUED BY THE COMMISSIONER FOR THE SOUTH AFRICAN REVENUE SERVICE
PRETORIA