SARS published Draft Interpretation Note VAT on Treatment of Vouchers for comments by no later than 31 May 2014. This draft provides clarity on what constitutes a voucher and the concomitant value-added tax (VAT) treatment. It does not cover the VAT treatment of telecommunication vouchers.
The SAIT will be making a submission to SARS on this matter. Kindly submit all comments to email@example.com by no later than 28 May 2014.
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.