Revenue has issued an eBrief on a revised Pharmacists Scheme for VAT. This is for use by pharmacies whose annual Vatable turnover is less than €1.5 million. The scheme operates by marking-up purchases for resale at the positive VAT rates to arrive at corresponding sales at these positive VAT rates; for more information on the scheme click here.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.
MINIMUM REQUIREMENTS TO REGISTER
The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.