Print Page   |   Report Abuse
News & Press: Tax24.mobi - Daily News

Draft Taxation Laws Amendment Bill (Friday Page)

03 August 2012   (0 Comments)
Posted by: SAIT Technical
Share |

By Michael Stein (Friday Page)

The Draft Taxation Laws Amendment Bill, 2012 has been posted on the sars website for comment.

And so I will make some general comments:

It is once again a huge piece of legislation, but what is seriously disquieting about it is that it not only contains the usual plethora of draft amendments to the Income Tax Act and other consolidated Acts, such as the Transfer Duty Act, but it also contains a host of draft amendments to previous amendment Acts, some of which fix the dates of those amendments.

In fact, there are almost forty amendments to previous amendment Acts.

This is largely an acknowledgement of past errors, which is bad enough. But it also makes the law even more accessible than ever. This is because few tax practitioners have easy or convenient access to past Acts. In fact, they are fortunate if they even have access to an up to date version of the consolidated Income Tax Act.

The problem is that amendments are passed in a flawed state and then, instead of amending the flawed provision, the authorities now resort to amending the amendment Acts that effected the flawed amendment in the first place.

Please forgive the oxymoron, but this is nothing but organised chaos. It is high time the authorities got their law-making machine in order!


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.

Membership Management Software Powered by YourMembership.com®  ::  Legal