'In recent years tax legislation has become very complex and the non-compliance … can be directly linked to the tax practitioners' technical ability to perform the work', says Stiaan Klue, Chief Executive of the SA Institute of Tax Practitioners.
Tax practitioners had better register with a professional body by 1 July or face criminal sanctions from SARS for non-compliance with the TAA!
In terms of the promulgated Tax Administration Laws Amendment Act No. 21 of 2012 (TAA)
, all tax practitioners will be regulated from 1 July 2013. Klue welcomes the new regulatory regime that will protect taxpayers against rogue tax practitioners
. 'The countdown for the tax profession has begun, with exactly five months for tax advisors
to register as tax practitioners
with a recognised controlling body'. Failing to register by 1 July will result in criminal sanctions should they continue to submit tax returns or provide tax advice for a fee.
In anticipation of the new regulatory regime for tax advisors, the South African Institute of Tax Practitioners (SAIT)
was appointed on 30 November 2012 as the National Board Examination adjudicators for tax practitioners
under the mandate of the Quality Council for Trades and Occupations.
is also a registered controlling professional body by the South Africa Qualifications Authority (SAQA) in terms of the National Qualifications Framework Act, 2008.
The tax profession
now join the list of professional designations whose statutory and non-statutory professional body complies with criteria set out by SAQA.
We reported yesterday
has launched the Centre of Tax Excellence (CoTE)
to award an affiliate membership to new and qualified tax practitioners
who aren't yet members of a professional body.
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Press release from Dayne Stern of Marcus Brewster PR