Tax & Accounting27/03/2020 12:00:00 AM

COVID-19: Tax Practitioners Board response

The Tax Practitioners Board (TPB) has assured members that it is taking steps to support them through the COVID-19 pandemic, and is continuously recalibrating its business continuity plans, as the situation develops every day.

Though a number of staff are operating under work from home arrangements, the level of service the TPB provides to its members will not be impacted. It will continue to update its members with the latest information via social media or its website.

As part of its support for members due to COVID-19, the TPB asks those members who are experiencing difficulties in meeting their TPB obligations or registration renewals to get in touch. Further, the members, whose annual declarations are due on or before 31 December 2020, will not have to complete it until 2021 or, if renewals are due in 2021, until 2022.

The CPE requirements have also been revised due to COVID-19. The current policy of a 25% cap for technical or professional reading has been removed for the next six months. While the 25% professional reading cap has been temporarily lifted, the TPB expects practitioners to “first and foremost explore” online CPE offerings. All other elements of the CPE requirements remain unchanged and members are reminded to keep a logbook of their activities.