In his 2013 National Budget Announcement the Minister of Finance indicated there will be a move towards streamlining the VAT registration process.
While this was mentioned as part of the tax administration section of the budget the proposal has now become a tangible solution to a serious administrative burden for taxpayers, says Dirk Kotze, tax partner at global audit, tax and advisory firm Mazars.
The Taxation Laws Amendment Bill, 2013 ("TLAB"), published by National Treasury on 4 July 2013, describes a simplified registration process that should be the saving grace of many tax practitioners who have had to go through the ordeal of registering clients for VAT under the current regulations.
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.