With Sars' official recognition of controlling bodies being announced
today, the South African Institute for Tax Practitioners (Sait) is red
flagging a potential bottleneck for registration as the July 1 deadline
Sars has made an announcement today, officially recognising
five institutes as controlling bodies for the tax profession; namely
Sait, Saica, Saipa, CSAA and the IAC. However, time is running out for
nearly half of the South African tax practitioners, who now only have
until 1 July 2013 to register with one of these recognised bodies, or
otherwise run the risk of facing criminal sanctions.
Chief Executive of the South African Institute for Tax Practitioners
(Sait), which is the largest of the Sars' recognised bodies in terms of a
subscriber base, is concerned that the process has taken longer than
initially anticipated when President Zuma first promulgated the
legislation in December 2012. "Nearly 17 000 tax practitioners now have
less than two months to meet the registration requirements, such as
complying with professional examinations and ultimately register with a
recognised controlling body and Sars before 1 July."
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.