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News & Press: Customs and Excise

Draft Rule Amendment of section 120 – Currency conversions for determining value of goods exported

10 November 2015   (0 Comments)
Posted by: Author: SARS
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Author: SARS

The proposed rule amendment extends currency conversion to the value of goods exported if that value is expressed in a foreign currency (Customs Act).

Please click here to view the proposed amendments (5 November 2015).

Depending on the quality feedback received, SAIT will be making a submission to SARS.  Kindly submit all comments to taxassist@thesait.org.za by no later than 17 November 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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