Tuesday, September 12, 2006

South Africa: Tax Advisers to Be Exempt On Amnesty

Financial services and tax advisers wishing to advise clients to make use of the small-business tax amnesty would be exempted from the Financial Intelligence Centre Act (Fica) towards the end of next week, South African Revenue Service (SARS) commissioner Pravin Gordhan says. He was responding to the problem raised by financial advisers who wish to encourage small-business clients to make use of the amnesty, but are unable to do so because the advisers would then be required to report their clients to the Financial Intelligence Centre in terms of the act. On Friday, Gordhan stepped up SARS' national campaign to encourage small business to make use of the amnesty by leading a team of 150 officials on walkabouts to businesses south of Durban to engage taxpayers about the amnesty.

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