SARS has released a guide on the statutory obligations placed on South African financial institutions in terms of the agreement between the USA and RSA regarding the US Foreign Account Tax Compliance Act (FATCA).
Please click here to access the guide (5 June 2015).
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.