Tax Practitioners Feel The Heat Of Sars Interpretation Note 132

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tax practitioners feel the heat of sars interpretation note 132

Recent developments in the governance of tax practitioners under the new Sars Interpretation Note 132 IN132 have sparked significant discussion within the profession.

Published on July 29, 2024, IN132 addresses the regulation, registration, and deregistration of tax practitioners with specific reference to deregistration and non-eligibility under the Tax Administration Act No. 28 of 2011 in the event of non-compliance, aimed at enhancing oversight and the compliance of tax practitioners.

As the South African Revenue Service Sars intensifies its regulatory efforts, the impact on tax practitioners and their ability to operate effectively is coming into sharper focus.

IN132 outlines specific conditions under which individuals may be barred from registering as tax practitioners or may face deregistration due to their own tax non-compliance well as the period of non-qualification for registration. Key elements of IN132 include

Registration Requirements Tax practitioners must be registered with both a recognised controlling body and Sars. Failure to meet these requirements constitutes a criminal offense, potentially leading to fines or imprisonment.