SARS published Issue 3 of Interpretation Note 19 - Year of assessment of natural persons and trusts: Accounts accepted to a date other than the last day of February on 9 October 2013.
This Note provides guidance on the Commissioner’s discretionary power to grant permission to a natural person or trust to submit financial accounts for a period (the "accounting period”) which differs from the year of assessment ending on the last day of February.
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.