SARS issued a regulation under items (a) and (c) of the definition of "determined value" in paragraph 7(1) of the Seventh Schedule that set out the determination of the "retail market value” for the right of use of a motor vehicle.
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.