Businesses involved in imports and exports must register with SARS as an importer or exporter. They need to ensure that goods are properly declared on the correct tariff classification and … More
Capital Gains Tax (CGT) is a tax on the profit made when selling an asset. It applies to the disposal or deemed disposal of assets by South African residents (anywhere … More
Businesses can claim various deductions and allowances against their taxable income, including wear and tear (depreciation) on assets like machinery and equipment, allowances on expenditure related to intellectual property (patents, … More
A business is required to register for VAT if its total taxable supplies (turnover) exceed R1 million in any consecutive 12-month period or will exceed this amount in the next … More
A Small Business Corporation (SBC) is a specific type of company that meets certain requirements and qualifies for additional tax incentives like a reduced corporate tax rate. To register as … More
Turnover tax is a simplified tax system designed for small businesses in South Africa. It’s an elective tax, meaning businesses can choose to participate if they meet the requirements. Eligibility … More
