National Treasury announced the exemption of grants received by or accrued to a person by virtue of the clothing and textile competitiveness program administered by the dti, to be exempt from normal tax with effect from 1 April 2009 under section10(1)(y).
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.