The initial Voluntary Disclosure Programme (VDP1) that commenced in 2010 and closed on 31 October 2011 attracted in excess of 18 000 applications.
The last eight (8) applications are currently in the process of finalisation.
More processing capacity became available as resources from VDP 1 freed up. This has significantly increased the average number of cases finalised per working day from 6.9 during 2013 to the current 27 cases per day.
The VDP unit is currently processing applications received during May and June 2014.
The current turnaround time has been reduced as expected and should further reduce to around 31 working days per case in the next four (4) months.
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.