This BGR reproduces the statement in paragraph 7.3 of the Value Added Guide for Motor Dealers (VAT 420) under the heading "Over-allowances: Notional Input Tax and Open Market Value”, which comprises a BGR under section 89 of the TA Act.
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.