SARS recently issued an Interpretation Note that provides guidelines on the documentary proof that must be obtained and retained under section 16(2) to substantiate a vendor’s entitlement to "input tax” as defined in section 1(1), or a deduction as contemplated in section 16(3)(c) to (n).
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.