The implementation of the national development plan (NDP) is not envisaged to have a cost- and tax-raising effect on the national budget.
However, though unintended, the major recommendations may require additional taxes - it will depend on the pace of economic growth and the outcome of projected demographic shifts over time.
Speaking at the South African Institute of Professional Accountants (Saipa) and Norton Rose Fulbright's Tax Seminar 2013, Elias Masilela, commissioner of the National Planning Commission (NPC) and chief executive officer of the Public Investment Corporation, said whilst the NDP does not discuss the tax system or tax policy in detail, it does make some specific tax policy recommendations.
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.