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3 days into the new TAX ADMINISTRATION ACT era

The Tax Administration Act No. 28 of 2011 commenced on 1 October 2012 as announced by the President of South Africa on 14 September 2012.

The Tax Administration Act (previously referred to TAB or tagged TAB) aims to simplify and consolidate, into one Act, a more logical and systematic way of dealing with the tax administration law across various tax laws, tax platforms and to perhaps one day use on number for all all taxes i.e. your VAT and income tax number os aligned.

The TAA and the new 2012 draft bill (yes we already into first amendment) eliminates duplication, removes redundant requirements and aligns different requirements that currently exist in different tax acts, all of which administered by the C:SARS or more correctly referred to as the Commissioner for South African Revenue Services.

The TAAct reflects the constant endeavour to simplify law, reduce red-tape and streamline the administration process to provide a better service to taxpayers, whilst strengthening enforcement and compliance.

See the SARS webpage on this topic!

http://www.sars.gov.za/home.asp?pid=78544

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