Section 50J: Liability to solidarity levy

50J. Liability to solidarity levy (1) Subject to this section, every operator shall be liable to pay to the Director-General a solidarity levy calculated by reference to its book profit and turnover in respect of the preceding year at the rate specified in subsection (2). (2) The levy under subsection (1) shall be calculated at the rate of 5 per cent of the book profit and 1.5 per cent of the turnover of the operator in respect of each of the years of assessment commencing on 1 July 2009, 1 January 2010, 1 January 2011, 1 January 2012, 1 January 2013, 1 January 2014, 1 January 2015, 1 July 2015, 1 July 2016 and 1 July 2017. (3) The levy under this section shall be paid at the time the operator submits its return of income under section 116. (4) No levy shall be paid in a year where, in the preceding year— (a) the operator incurred a loss; or (b) the book profit of the operator did not exceed 5 per cent of its turnover. [S. 50J inserted by s. 21 (d) of Act 14 of 2009 w.e.f. 30 July 2009; amended by s. 21 (j) of Act 10 of 2010 w.e.f. 24 December 2010; s. 8 (m) of Act 37 of 2011 w.e.f. 15 December 2011; s. 12 (g) of Act 26 of 2012 w.e.f. 22 December 2012; s. 24 (i) of Act 9 of 2015 w.e.f. 14 May 2015.] Sub-Part AD – Corporate Social Responsibility [Sub-part AD inserted by s. 21 (d) of Act 14 of 2009 w.e.f. 1 July 2009.]