SARS have released a new interpretation note dealing with the
taxation of stolen money, as well as the deductibility of expenditure and
losses incurred when money is stolen through embezzlement, fraud or theft.
Please click here to access the Interpretation Note.
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.