New Turnover Based Tax

In an attempt to simplify the taxation of small businesses, SARS has launched a new Turnover Based Tax.

If your turnover is below R1 million per annum and you meet the other necessary requirements, you will be able to apply for the new tax system. This will mean that VAT, STC, CGT and Provisional Tax will no longer apply.

For more information regarding the additional requirements and the applicable tax rates, please see the SARS website (http://www.sars.gov.za/home.asp?PID=4232&ToolID=2&ItemID=44056) or contact our offices.

 Applications for this Tax Regime close on 30 April 2009.

Additional information