The DTC’s media statement on 5 November 2013 called for input for its first report on BEPS. The report was drafted after taking into account various submissions and wide consultation.
Further input from interested parties is now invited to assist the DTC BEPS sub-committee with drafting its Second Interim Report on BEPS. The input can be in the form of written or oral submissions and must be aligned with item 3b in the list in the DTC’s Terms of Reference, which states that the following must receive the attention of the Committee:
A review of the corporate tax system with special reference to tax avoidance (e.g. base erosion, income splitting and profit shifting, including the tax bias in favour of debt financing).
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.