2.2 Unless the context otherwise indicates, other terms used in this engagement letter have the same meanings as defined in section 76B of the Income Tax Act, 1962 ("the Act") or the SARS Guide to Binding Private Rulings as the case may be.
3.1 Your application is subject to an application fee. This fee must be paid through SARS eFiling when you file your application. If your application fee is not received within ten days of the filing of your application, your application will be rejected.
3.2 In addition to the application fee referred to in 3.1 above, you are liable for a further fee ("estimated fee"). The estimated fee in connection with your application is set forth in Section One above. By signing this engagement letter, you confirm your acceptance of this estimated fee.
3.3 You must make an advance payment of a maximum of 20% of the higher value of the estimated fee range.
3.4 You must make this advance payment within 15 working days of the date of the estimate set forth in Section One above. If you fail or refuse to do so, your application will be rejected without any refund of the application fee.
a new issue is discovered during the course of the ruling process.
If at any time during this engagement a revision appears necessary, you will be notified of the proposed revision and be given the opportunity to discuss this issue with the ruling specialist assigned to your application. If you fail or refuse to accept an estimated fee within 15 days of the date of the estimate, your application will be rejected.
3.6 You may be invoiced periodically for work performed and costs incurred in connection with your application. All invoices are payable within 30 days. Amounts in arrears will accrue interest and be referred to an external debt collection agency for further action. You will be responsible for the full amount of any outstanding fees, interest and costs incurred in the collection of such outstanding amounts.
3.7 A ruling letter in response to your application will not be issued unless and until all invoices have been paid in full.
4 .1 You have filed an application for a binding private ruling in accordance with the provisions of Part IA of Chapter III of the Act. Your application and any ruling letter and the specific rulings set forth therein are subject to any other requirements and limitations set forth in this part of the Act, as well as any requirements and limitations set forth in any general binding ruling issued by the Commissioner pursuant to section 76S of the Act, including, without limitation, the SARS Guide to Binding Private Rulings.
Failure to comply with the requirements of these provisions may result in the rejection of your application or in any Binding Private Ruling issued to you being withdrawn, modified or rendered void ab initio.
4.2 The Commissioner may reject your application at any time if it is determined that an exclusion applies. The decision to refund any cost recovery fees paid by you in such a case lies solely in the discretion of the Commissioner and will be determined on a case-by-case basis. Interest is not payable on any refund.
4.3 Every application is assigned a unique Reference Number. You must use this Reference Number in all further communications in connection with your application.
4.4 The Commissioner may request additional information in connection with your application at any time. If you fail or refuse to provide this information within the time period prescribed, your application may be rejected without refund of the application fee or any cost recovery fees incurred until the date of rejection. You will also remain liable for any cost recovery fees incurred but not yet paid up to and including the date of rejection.
4.5 You are solely and exclusively responsible for ensuring that the information you submit is complete and accurate. Failure to do so may result in the rejection of your application or in the subsequent withdrawal, modification or invalidation of any Binding Private Ruling you may receive.
4.6 With the consent of the Commissioner, you may amend your application to reflect a change or modification to your proposed transaction. Such an amendment will generally result in an estimated fee. Consent will not be granted if the amendment relates to a new proposed transaction. In such a case, you must file a new application.
4.7 You may also amend your application at any time to request that the Commissioner cease work in connection with it and not issue a Binding Private Ruling (Amendment to Discontinue). This amendment must be in writing. All work in connection with your application will cease immediately upon receipt of the Amendment to Discontinue. If you subsequently wish to pursue the matter again, you must file a new application. The decision as to whether or not to issue a Binding Private Ruling in response to your application lies within the Commissioner's sole discretion.
4.8 Your Binding Private Ruling may be withdrawn or modified by the Commissioner in accordance with the provisions of sections 76M and 76N of the Income Tax Act.
4.9 The Commissioner may, at his sole discretion condone non compliance with any of the preceding terms and conditions and may accept an application on such additional terms and conditions that he deems fit.
4.10 By signing this engagement letter, you agree that should paragraph 4.
submit all information listed above in such manner and form as the Commissioner may prescribe.
the tax laws, regulations, binding general rulings, and cases in effect as of the date of any ruling letter that may be issued to you. In particular, any specific rulings that may be made are based solely upon the interpretation and application of the tax laws as amended and in effect as of the date of this ruling letter, as well as any applicable regulations, general binding rulings or cases, in effect as of that date.
4.12 Any specific ruling(s) that are made only apply to the provisions of the tax laws identified in the final ruling letter in connection with the proposed transaction described herein.
4.13 Any ruling letter and the specific rulings that may be issued are based upon the Commissioner's understanding of the proposed transaction as described in the ruling letter itself. If you believe that this understanding is incorrect, inaccurate or incomplete, it is your obligation to notify the Commissioner immediately. The failure to rectify a misunderstanding of a material fact may result in the ruling letter being withdrawn, modified or rendered void ab initio.
o the decision is fact-specific and the general interpretation upon which the specific rulings were based is unaffected; or o the reference in the decision to the interpretation upon which the specific rulings were based is obiter dicta.
the date of the judgement, whichever is applicable. The ruling letter ceases to be effective automatically upon the occurrence of any of these events. The Commissioner is not obligated to notify you or to otherwise publish a notice of withdrawal or modification.
any condition or assumption stipulated by the Commissioner in the ruling letter is not satisfied or carried out.
A fact is considered material if it would have resulted in a different specific ruling had the Commissioner been aware of it when issuing the ruling letter.
4.16 You must consent to the publication of your Binding Private Ruling in such form as does not reveal the identity of the parties to the transaction or any information that would constitute a clearly unwarranted invasion of privacy. Your application will not be accepted unless and until you provide this consent. Furthermore, you will be provided with a sanitised version of the Binding Private Ruling prior to publication thereof in order to ensure that you are in agreement with the final version for publication. You must confirm your agreement with the sanitised version within 5 days of receipt thereof.
4.17 It is a condition precedent to any Binding Private Ruling that it does not raise an issue that is the same as or substantially similar to an issue that is currently before the Commissioner in connection with an audit, examination, investigation or other proceeding involving you or any related person in connection with you. If this condition precedent is not satisfied, any ruling letter issued to you will be rendered void ab initio.
5.1 The terms and conditions contained in this letter of engagement apply mutatis mutandis to any co-applicant(s) listed in Annexure A attached hereto (if applicable).
5.2 Should there be any differences between these terms and conditions and any of the terms and conditions as prescribed for in sections 76B to 76S of the Act then the Act will take preference.