The R6.88 billion deficit for July 2014 can be attributed to exports of R85.37 billion and imports of R92.26 billion.
Exports increased from June to July by R5.40 billion (6.8%) and imports increased from June to July by R11.82 billion (14.7%). The cumulative deficit for 2014 is R55.49 billion compared to R41.11 billion in 2013.
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.