99. Period of limitations for issuance of assessments.—(1) SARS may not make an assessment in terms of this Chapter—
(a) three years after the date of assessment of an original assessment by SARS;
(b) in the case of self-assessment for which a return is required, five years after the date of assessment of an original assessment—
(i) by way of self-assessment by the taxpayer; or
(ii) if no return is received, by SARS;
(c) in the case of a self-assessment for which no return is required, after the expiration of five years from the—
(i) date of the last payment of the tax for the tax period; or
(ii) effective date, if no payment was made in respect of the tax for the tax period;
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(2) Subsection (1) does not apply to the extent that—
(a) in the case of assessment by SARS, the fact that the full amount of tax chargeable was not assessed, was due to—
(i) fraud;
(ii) misrepresentation; or
(iii) non-disclosure of material facts;
(b) in the case of self-assessment, the fact that the full amount of tax chargeable was not assessed, was due to—
(i) fraud;
(ii) intentional or negligent misrepresentation;
(iii) intentional or negligent non-disclosure of material facts; or ....
