Tax practitioners to be regulated

2013-01-04 13:21

Government will this year introduce laws to regulate the tax advisory services in the country.

The new regulations would hold tax practitioners accountable for the advice they give to taxpayers and also rid the industry of rogue practitioners, Business Day reported today.

The newspaper said the regulatory framework would obligate practitioners to register with a regulatory body before July.

Those who failed to do so would face legal action.

The Tax advisory regulations came after the promulgation of the Tax Administration Amendment Act at the end of 2012.

All practitioners would be obliged to be members of organisations such as the Independent Regulatory Board of Auditors, SA Legal Practice Council, Institute for Tax Practitioners, SA Institute of Chartered Accountants or SA Institute of Professional Accountants.

Business Day reported that while the state’s intention was to hold tax practitioners accountable, it was suspected in the tax advisory industry that the regulations were aimed at keeping those in highly sophisticated tax avoidance schemes in check.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Rugby World Cup 2015

All the action from the 2015 RWC, including live coverage of all 48 matches, breaking news, fixtures, results, logs - and much more!


Rugby World Cup 2015

Boks not underestimating Wales scrum
Boks play repeat knockout at RWC
O'Connell out of World Cup - Laporte
Etzebeth hails Bok lock stock
Traffic Alerts

You may find it hard to focus on the mundane routines as the greener pastures seem so tempting. It is a good time to expand more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.