What is a Tax Practitioner?
Tax Practitioner meaning
A Tax Practitioner is a natural person who provides a tax preparation, planning and submissions service on behalf of third parties, for reward. The Tax Practitioner is registered with a controlling body as well as SARS. A Tax practitioner will require the experience and academic requirements in order to register with SARS.
Frequently asked questions
Who qualifies to be a tax practitioner in South Africa?
To register as a tax practitioner, you must meet the following requirements and registration process: You must belong to or fall under the jurisdiction of a Recognised Controlling Body as referred to in s 240A of the Tax Administration Act. Have the minimum qualifications and experience set by your Recognised Controlling Body.
What services can be performed by a Tax Practitioner?
- Register with SARS as a Tax Practitioner in terms of the new Tax Administration Act
- Register all tax types
- Prepare and file Income Tax returns for individuals and all types of businesses
- Prepare and file PAYE returns
- Prepare and file VAT returns
What are the benefits of using a tax practitioner?
The goal of the taxpayer is to receive the correct tax assessment and to pay the correct amount of tax. By providing accurate and comprehensive data in the appropriate format via a certified tax professional, the taxpayer can guarantee the highest possible refund or the precise amount of tax that is legally due.
Can you become a tax practitioner without a degree?
Requirement of Registration of tax practitioners with a controlling body
You have successfully completed the National Diploma: Technical Financial Accounting NQF 5, or the National Diploma: Financial Accounting NQF 6 qualifications are eligible to register as a tax practitioner.
Are tax practitioners in demand in South Africa?
South Africa needs more tax practitioners, so there is a high demand for people in this career. It is considered a scarce skill. Since scarce skills lead to higher earnings, it is a smart choice to contribute to the country's growth and achieve prosperity.
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