On the 24th of July SARS issued Binding Class Ruling 041 which deals with Dividends distributed by a foreign company. This ruling deals with the question whether dividends distributed by a foreign company will be foreign dividends as defined in section 1(1) of the 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.