In delivering judgement on two cases referred to it by Hungary, the Court of Justice of the European Union (ECJ) has ruled that the deduction of VAT cannot be refused, in principle, because of irregularities committed by the issuer of the invoice. However, that deduction must be refused if the taxable person knew, or ought to have known, that the transaction relied on as a basis for the right to deduct was connected with fraud.
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.