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  • 贴吧没有极速版本:MINERAL AND PETROLEUM RESOURCES ROYALTY

    What's New?

    • 18 June 2019 - The new MPRR form has been published on the SARS website and should be used for all submissions from 18 June 2019 onwards.

    • 28 January 2019 - Master data system release (RAV01)
      This release includes the registration and subscription of existing MPRR taxpayers on to the new system, as well as the creation of the taxpayer’s account. These steps are dependent on the master data to be cleansed (complete and correct). New Legal Entity registrations and/or new subscriptions for MPRR will be generated via the RAV01 form, which replaces the old MPR1 form. A new MPRR account number (also referred to as the MPRR tax reference number) will be generated and will start with “814….”.

    • 01 October 2018 - Mineral and Petroleum Resource Royalties Return (MPR3)
      SARS rolled out a new form for Mineral and Petroleum Resources Return and Payment advice. The form?is available to download from 01 October 2018 and the existing MPRR taxpayers will be expected to complete the new MPRR return and payment data form:
      • The old Mineral and Petroleum Resources Payment advice (MPR2) and Mineral and Petroleum Resources Return (MPR3) have been incorporated into one Mineral and Petroleum Resources Return (MPR3), to declare you must complete the new Return (MPR3).
      • The return MPR3 has been updated with the type of mineral type, unit of measure and volume transferred (quantity) of mineral sold which was previously not included in the MPR3.
      • The MPR3 form has been standardised to cater for all the attributes namely filing, payment and return obligations below:
    ?
    MPR3 Form? Filing ? Payment?
    1st Estimate? ?First Estimate return must be submitted six (6) months after the start of the year of assessment. ?First payment – 50% of estimated total liability for the year of assessment – six (6) months after start of financial year.
    2nd Estimate ? ?Second Estimate return must be submitted at the end of the year of assessment (therefore at the end of 12 months, after the start of the year of assessment – applicable if no change was made to the financial year end). ?Second payment – balance of estimated total liability for the year of assessment – at financial year-end (therefore before the end of 12 months after the start of the year of assessment – applicable if no change was made to the financial year end).
    3rd Optional/ Top - up? ?An optional third top-up return, referred to as the “Return of Excess”, can be used to declare additional liability for the year of assessment that was not catered for in the first and second estimate returns (therefore, if required, on or before the end of 18 months after the start of the year of assessment – applicable if no change was made to the financial year end). ?Optional Top-up Third Payment – Amounts not catered for in the first and second estimate for the year of assessment (therefore, if required, before the end of 18 months after the start of the year of assessment – applicable if no change was made to the financial year end).
    Final Settlement? ?An annual return must be submitted twelve months after the end of the year of assessment for final reconciliation purposes. ?Final liability settlement – 12 months after year-end, where final return liability exceeds the payments made for 1st and 2nd estimate and optional 3rd payment.
    ?
      • Payments must preferably be made via eFiling into the SARS account and each payment must be accompanied by a completed return (MPR3). Payments can be made via the eFiling “Additional Payments” function (also referred to as “Ad Hoc” payment) to the “MINR” tax type.
      • Payments may also be made via EFT or Over the Counter payment at a bank branch, selecting the 'SARS Other' option and applying the 19-digit payment reference number (PRN). This is not the preferred channel and should only be used if eFiling is not an option.
      • The 19-digit PRN is the “TAXREFNUMBX00000155”.? Every payment must be accompanied by the completed Mineral and Petroleum Resources Royalty return (MPR3).
      • After 07 December 2018, a new MPRR tax reference number, starting with “814….” will be allocated to MPRR taxpayers that are registered and subscribed on the new system solution.

    极速11选5怎么赢 www.lfetz.com
    Top tip: MPRR taxpayers are urged to move to? eFiling as a payment channel as soon as possible. This will allow the taxpayer time to resolve any possible system integration with eFiling and approval requirements on their accounting and payment system solutions. The EFT bank channels will be discontinued for MPRR payments after 31 March 2019, which implies that all MPRR payments will only be payable by using the eFiling channel.??

    After 31 March 2019, eFiling will be the ONLY payment channel for MPRR.

    What must a taxpayer do to comply with the eFiling channel requirements?

    • If already using eFiling and making payments via eFiling:?
      • Continue to use ONLY the eFiling process for making MPRR payments
    • If not already using eFiling or not making payments via eFiling:
      • Discontinue making EFT payments through online banking or Over the Counter payments at bank branches process
      • Register for eFiling if not already registered to file other taxes via eFiling
      • Capture and submit your? banking details on eFiling for payments to SARS
      • Provide any requested information to SARS to confirm banking details

    What is MPRR?

    In the past, mineral and petroleum resources were privately owned, meaning that payment for the extraction of these resources was payable to the State only under certain circumstances, e.g. where mining had been conducted on State-owned land.
    ?
    To bring South Africa in line with prevailing international norms, the Department of Minerals and Energy promulgated the Mineral and Petroleum Resources Development Act, 2002 (MPRDA) in terms of which these resources are recognised as the common heritage of all the people of South Africa with the State as custodian thereof for the benefit of all South Africans.?
    ?
    The Minister of Finance must, in terms of section 3(4) of the MPRDA determine and levy the State royalty by means of an Act of Parliament. This the Minister did by promulgating the Mineral and Petroleum Resources Royalty Act, 2008 as well as the Mineral and Petroleum Resources Royalty (Administration) Act, 2008, both of which are administered by SARS.
    ?
    The royalty is triggered on the transfer of a mineral royalty extracted from within the Republic.?As is the case for all other taxes, duties, levies, fees or money collected by SARS, the royalty collected is paid to the National Revenue Fund.

    Who is it for?

    The following persons must register for the payment of the royalty to SARS:
    • Any person who holds a prospecting right, retention permit, exploration right, mining right, mining permit or production right or a lease or sublease in respect of such a right; or
    • Any person who wins or recovers a mineral resource extracted from within the Republic.

    What steps must I take?

    The entity needs to be registered as a taxpayer by completing the RAV01 form and submitting the required supporting documents from eFiling. If you are registering with SARS for the first time and you do not have a tax number, you must do entity registration and MPRR registration at a SARS branch, and you can also take the completed MPR1 to the SARS Branch. Once registered for tax, the entity can subscribe for MPRR. For queries on registration, the SARS Contact Centre can be contacted on 0800 00 7277 or the nearest SARS branch should be visited.

    Once registration has been completed and a tax number is given, the entity can then register for eFiling, which is a free and convenient way of interacting with SARS. The entity will be able to subscribe to MPRR on eFiling through completion of the RAV01 form’s MPRR section.

    Once registration and subscription is in place, the declaration process should be followed. The completed MPR3 return must be emailed to [email protected].

    What is the rate for the royalty?

    The rate for the royalty is determined according to a formula contemplated in subsections (1) and (2) of section 4 of the Mineral and Petroleum Resources Royalties Act, 2008 and differentiates between the refined and unrefined conditions of the mineral resource, and are currently as follows –
    • for refined mineral resources: the minimum of 0.5% to a maximum of 5%
    • for unrefined mineral resources: the minimum of 0.5% to a maximum of 7%.

    When and how should the royalty be paid?

    Payments can be made via the eFiling channel using the Additional payment option. Note that bank channels will be discontinued for MPRR payments after 31 March 2019, which implies that all MPRR payments will only be payable by using the eFiling channel. An eFiling channel should be set up for each MPRR taxpayer, and all payments should be made via this channel to ensure no issues are experienced when banking channels are discontinued.

    Note that each payment must be accompanied by a completed MPR3 (new) form as required by legislation for the two provisional payments, the third excess payment and the final return (if a further payment is necessary).
    ?
    ?Phase ?Description Date of release? ?Outcome of release
    Phase 1
    • MPR3 Form (new)
    ?
    New MPR3 return (form) released. The form includes the previous MPR2 payment advice/ return as well as the old MPR3. The RAV01 will still be used to register a legal entity (single registration), and the MPR01 for subscription to MPRR? ?01 Oct 2018 ?Successfully released, published and in use from 01 October 2018. All MPRR returns must be submitted on this new MPR3, even for prior periods.

    Phase 2

    • RAV01 for subscription to MPRR
    • System solution for registration and subscription
      ?
    ?Master data system release and registration of the taxpayer. Creation of the taxpayer’s account and confirmation of subscription to MPRR (dependency – master data must be cleansed). The account number (MPRR tax reference number) will start with “814….”. New registrations and subscriptions for MPRR will be submitted via the new RAV01 form (replacing the MPR1 form). Refer to the registration page on the SARS website for more details. ?25 January 2019 ?On track

    ?Phase 3

    • New eFiling payment channel for MPRR
    • Deactivation of current payment channels
    ?New eFiling payment channel release. De-activation of the other current payment channels - via EFT and Over the Counter payments at bank branches ([email protected]), as well as the current channel available via eFiling for MPRR payments. ?After 31 March 2019 (tbc) ?Release date to be confirmed and communicated to the taxpayers

    Phase 4

    • New eFiling channel – returns submission?
    ?Release of the eFiling channel to submit returns. ?After June 2019 (tbc) ?Release date to be confirmed and communicated to the taxpayers

    Phase 5

    • Full and final release
    • eAccount
    • Statement of Account
      ?
    ?Release of the eAccount and Statement of Account on eFiling to enable the MPRR taxpayers to maintain the account. This is the full account functionality and final release. ?After Sept. 2019 (tbc) ?Release date to be confirmed and communicated to the taxpayers
    ?
    You can?access the updated MPRR external guide and?MPR3 form below:

    To access this page in different languages click on the links below:
    ?
    Last Updated: 18/06/2019 2:41 PM     print this page ?
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    ?Top FAQs

    Will penalties be levied on underestimation of royalty payable?
    Yes. If the royalty paid is underestimated by an amount of more than 20%, the Commissioner may impose a penalty that may not exceed 20%

    Do I need to pay the Mineral Royalty even if I am making a loss?
    Yes. A minimum royalty rate of 0.5% must be paid even if you are making a loss.

    Is the Mineral Royalty payable on my profit?
    No. The Mineral Royalty is payable on your gross sales for the particular mineral resource.

    Who is exempt from the Mineral Royalty?
    Certain small Businesses are exempt from Mineral Royalty. The following conditions must be met on an annual basis: The gross sales of the extractor in respect of all mineral resources transferred do not exceed R10 million during the year.

    Will I receive a Mineral Royalty tax number on registration?
    No. Your income tax reference number must be used for declaration of Mineral Royalty.




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