Section RP 20 — Income Tax Act 2007: Declining, amending, or reversing transfers

RP 20 Declining, amending, or reversing transfers When this section applies (1) This section applies when a tax pooling intermediary asks to transfer an amount under section RP 19 . Tax avoidance (2) The Commissioner may refuse to accept the request, or may reverse the transfer, if the request is made for the purpose or effect of tax avoidance. Non-compliance (2B) If the Commissioner considers that the request does not comply with sections RP 17 to RP 21 , the Commissioner may— (a) decline to process the request: (b) amend the request: (c) reverse the transfer. Failure to provide details (3) The Commissioner must refuse the transfer if— (a) it relates to a deposit for which the details have not been provided under section RP 18(3) and the period of 5-working days has not expired: (b) the details required under section RP 19(4) have not been provided. Defined in this Act: amount , Commissioner , intermediary , tax avoidance , working day , Compare: 2004 No 35 s MBA 6(4)–(9) Section RP 20 heading: substituted, on 29 August 2011, by section 129(1) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section RP 20(2B) heading: inserted, on 29 August 2011, by section 129(2) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section RP 20(2B): inserted, on 29 August 2011, by section 129(2) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).