SARS on Friday issued the Tax Administration Amendment Bill for public comment. The Bill contains new provisions to regulate tax practitioners in South Africa. In essence tax practitioners, in addition to being registered with SARS, will also be compelled to register with a controlling body, such as SAIT and SAICA.
The truth is that a significant number of tax practitioners are neither properly qualified nor registered to offer professional tax administration services. Our caution to the business fraternity and public at large is to be weary of these requirements and ensure that proper screening is done when appointing professional tax administrators and accountants.
Once the Tax Administration Amendment Bill is promulgated, all tax practitioners as defined in terms of section 239 and 240 of the Tax Administration Act (No. 28 of 2011), will also be required to register with a controlling body (as defined).