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A world with fewer tax audits?

17 March 2014   (0 Comments)
Posted by: Author: Ingé Lamprecht
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Author: Ingé Lamprecht (Moneyweb)

Taxpayers, authorities move towards co-operative compliance.

Several international jurisdictions are piloting a co-operative compliance model, a form a voluntary disclosure, whereby taxpayers promise to notify the tax authority of any issues regarding a possible tax risk. At the same time tax authorities undertake to provide timely advice on significant positions, taking commercial deadlines into account.

Following the economic downturn and the pressure on state coffers, tax has internationally received increased attention from governments. Tax is also progressively being discussed at a company board level as several international groups have suffered reputational damaged as a result of perceived tax avoidance.

The Organisation for Economic Co-operation and Development (OECD)’s Forum on Tax Administration released a report on co-operative compliance last year. The report highlighted the belief that co-operative compliance can "restore trust and confidence in the relationship between business and tax administrations”.

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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.


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.

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