The designation of certain areas as special economic zones (SEZ) has long been one of the Department of Trade and Industry’s (DTI’s) strategies to stimulate economic growth, but the jury is still out on whether it has been effective. The SEZ programme is made up of ten projects earmarked to be located throughout the country, with at least one in each province, but the question still arises as to whether these will simply be more ineffective industrial parks.
They range from an ICT hub planned for Nasrec in Johannesburg, a renewable energy and clean technology park in Atlantis near Cape Town, and a platinum group metals (PGMs) beneficiation hub in Rustenburg, to a farming/mining centre in Musina for which R37 billion in pipeline investment has already been identified.
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.