The Supreme Court of appeal delivered its judgement in the case between Shuttleworth v South African Reserve Bank on the 1st of October 2014.
The judgement revolves around regulation 10(1)(c) of the Exchange Control Regulations – lawfulness of the imposition of a ten per cent exit levy by the South African Reserve Bank on the value of assets sought to be exported upon emigration – whether court can order repayment of the levy.
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.