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Why the new registration of the tax profession law is good news for your business
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10 April 2014

There 34000 tax practitioners in South Africa. From that number, 17000 tax advisors don’t have a tax qualification. That’s scary! And it means your businesses finances could be in the hands of an unscrupulous tax practitioner. The good news is the registration of the tax profession by the South African Quality Authority (SAQA) will change all this…

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SAQA’s registration of the tax profession means you don’t have to worry about unscrupulous tax practitioners

In a statement, the South African Institute of Tax Professionals (SAIT) says the South African Quality Authority has registered the Tax Professional as an occupational qualification. This after a five year gestation which incorporated lengthy deliberations between the South African Revenue Service, industry and academia.

This means “South Africa will now enjoy an international standard of qualification for the tax profession,” says Chief Executive of SAIT, Stiaan Klue

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The occupational qualification will address the issue of training and certification of tax professionals

Basically, tax advisors or people who want to be tax professionals will have to gain professional training that’s recognised by the South African Quality Authority.

This, in turn, means you’ll be able to verify that your tax practitioner is properly qualified to handle your company’s finances. That’s good news for your business and is another measure to ensure tax practitioners are compliant.

Don’t forget that at the moment, your tax practitioner must be a member of a SARS-recognised controlling body. Make sure he’s registered so that you’re getting the lawful advice from him.

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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