The DTC attention has been drawn to commentary on the First Interim Report on VAT that the DTC explicitly recommends that the VAT rate should be increased by three (3) percent. According to the DTC such commentary has, unfortunately , not been based on a thorough reading of the DTC’s report. Further, this clarification is released with the express purpose of encouraging debate about an appropriate tax system for the South Africa of the future.
Please click here to view media statement (17 August).
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.