•sets out the legal framework for the VAT treatment of supplies of goods or services which are made by vendors for no consideration in certain circumstances; and •provide guidance to vendors, on whether: input tax may be deducted in respect of any VAT incurred on goods or services acquired to make supplies for no consideration; and output tax must be declared on any goods or services supplied for no consideration.
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.