SARS has approved the Chartered Institute of Management Accountants' (CIMA) application to be recognised as a controlling body for tax practitioners. Chartered management accountants who operate as tax practitioners or offer tax services will now be able to register with SARS.
Says Zahra Cassim, CIMA head of South Africa: "This follows on changes to the Tax Administration Act (2011) which was amended to require tax practitioners to register with a recognised controlling body, in addition to the existing requirement that they register with SARS. This is positive news for our members since they need not register with any other controlling body in order to register with SARS.
"The amendment is intended to provide a framework that will ensure that tax practitioners are appropriately qualified and that a mechanism is available, both to taxpayers and SARS, to address misconduct. CIMA members are already bound by a strict code of ethics and are required to operate with integrity."Registration
CIMA students, who have successfully completed the Certificate in Business Accounting (CBA) and are currently studying towards the professional qualification are also qualified to provide services as a tax practitioner and are therefore also now eligible to register as tax practitioners with SARS.
Says Cassim: "If members or students are already registered as a tax practitioner, they are not required to re-register with SARS as a tax practitioner. However, they are required to verify and update their registration details on SARS eFiling by 1 July 2013 and provide details of their membership of CIMA as the recognised controlling body.
"There may be members or students wishing to register as a practitioner for the first time, this can be done on the SARS eFiling website. This should also be completed by the 1 July deadline."
For more information, go to www.cimaglobal.com