National Treasury earlier this year published the draft Taxation Laws Amendment Bill, 2013 for public comment.
Following the consultation process with stakeholders, industry and civil society groups, Treasury on Wednesday (11 September) presented the draft response document to Parliament's Standing Committee of Finance.
Of significance is Treasury's position on the proposed amendment to s10(1)(q), dealing with bursaries and scholarships awarded to employee relatives.
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.