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News & Press: SARS News & Tax Administration

Draft public notice on FATCA non-compliance and penalties

09 June 2015   (0 Comments)
Posted by: Author: SARS
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Author: SARS

The draft notice lists the incidences of non-compliance (pertaining to FATCA) that are subject to the fixed amount penalty as per section 210(2) of the Tax Administration Act.

Depending on the quality of feedback received, SAIT will be making a submission to SARS. Kindly submit all comments to taxassist@thesait.org.za by no later than 20 June 2015.

Please click here to access the draft notice (8 June 2015). 


WHY REGISTER WITH SAIT?

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.

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