Eight categories of individuals or organisations affected.
While big business may be ready to meet Sars' June 28 deadline for disclosing certain third-party information, many small and medium enterprises may not even know about it.
"We question whether estate agents and small legal firms in particular are aware of the new requirements," says Marty Santana, tax director at BDO.
Apart from gazetting the new regulations and posting information about them on its own website, Sars seems to have done relatively little to inform affected SMEs or their industry bodies about the coming changes.
I have contacted the SARS call centre requesting info re a sole prop estate agent not registered as an employer ie no PAYE number. What number do they use to submit the IT3b and using what platform? SARS call centre is getting a supervisor to come back to me.
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.