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62 entries
were found in this section. |
2008/08/13 Wed 12:31
Failure to submit tax recons could be penalised
THE South African Revenue Service (Sars) has issued an urgent warning to business owners who have not yet submitted their payroll records with the deadline only 12 days away.
2008/07/03 Thu 15:16
Sars holds workshops to educate on new tax system
IN A BID to educate employers about the changes to the Personal Income Tax system, the South African Revenue Service (Sars) is holding a series of workshops throughout the country until the end of August.
2008/07/03 Thu 15:10
Tax deadline looms
THE 29 August deadline for submitting reconciliations for the 2008 tax season might prove too tight for business owners as many of them may be ill prepared to cope with the changes.
2008/06/12 Thu 16:00
Reconcile or face Sars’ wrath
BUSINESS owners will have to submit reconciliations before their employees will be allowed to submit tax returns.
2008/03/13 Thu 14:59
Choose the tax for your company
BUSINESSES with an annual turnover of less than R1 million will be allowed to opt for a new turnover-based tax instead of paying VAT and Company tax. These are the tax options that will be available to them if the changes are implemented.
2008/03/06 Thu 15:39
Tax made easy
ONE of the major headaches for business owners, Value Added Tax (VAT), could soon be replaced by a new turnover-based tax that would ease the administration burden on smaller businesses.
2008/02/07 Thu 16:19
Time’s up for tax evaders
AFTER allowing business owners an extension to apply for amnesty, Sars has taken a tough stance and those who did not submit their tax returns and financial statements by the 31 August 2007 deadline, could now face arrest.
2007/07/03 Tue 16:42
Amnesty grace for tardy owners
THE decision to grant business owners a second chance for amnesty registration proved to be a wise one. An additional
240 000 business owners registered in the first week after the extension.
2007/06/07 Thu 16:26
Tax amnesty deadline extended
BUSINESS owners who did not apply for tax amnesty have been handed a lifeline by the Minister of Finance Trevor Manuel and have until June 30 to submit applications to the South African Revenue Service (Sars).
2007/06/06 Wed 16:16
Tax amnesty extension on the cards
AN URGENT recommendation by Finance Minister Trevor Manuel could see a short extension for tax amnesty applications. This despite the South African Revenue Services saying that no extension would be granted.
2007/06/06 Wed 16:08
‘Active enforcement’ after tax amnesty ends
BUSINESS owners who did not register for the Small Business Tax Amnesty have left themselves wide open to the risk of prosecution by the South African Revenue Service (Sars).
2007/04/10 Tue 16:45
Levy collection scam by fraudsters
BUSINESS OWNERS who are accosted by strangers claiming to be collecting Regional Services Council (RSC) levies on behalf of the local RSC office should suspect foul play, says the Johannesburg Metropolitan Council.
2007/04/04 Wed 16:39
Proposed bill could lead to heavier tax
BUSINESS owners could be struck by a massive tax burden if a new bill which allows municipalities to raise their own taxes is made into law and the National Treasury introduces a replacement tax for the abolished Regional Services Council (RSC) levies.
2007/04/02 Mon 16:26
Sars prepares for amnesty rush
DESPITE only receiving a handful of applications after several visits to business premises, the South African Revenue Service remains optimistic that applications for the Small Business Tax Amnesty will stream in before the cut-off date.
2007/03/09 Fri 16:22
Business owners slow to comment on amendments to amnesty draft
BUSINESS owners have been slow in submitting comments to the South African Revenue Service (Sars) on whether they are satisfied with amendments made to the Small Business Tax Amnesty Act which aims to waive all interest and penalties on tax debt.
2007/02/09 Fri 16:11
Lessons from Brazil: Relaxing of tax laws boosts small business
BRAZILIAN business owners pay some of the highest tax rates in the world, something many South African business owners can relate to. But the Brazilian government has began introducing a new law which may see tax rates reduced by 50% for small businesses.
2007/02/02 Fri 16:09
New draft amnesty law on the cards
NEW draft legislation which waives all additional taxes and penalties incurred on tax debt is expected to
widen the scope of the Small Business Tax Amnesty and see more business owners applying to Sars to be exempted from paying their levies.
2007/01/24 Wed 16:25
Tax amnesty take-up still slow
BUSINESS owners continue to move slowly in their quest for tax amnesty with only a handful of almost a million owner-managed businesses having applied to the South African Revenue Services for amnesty.
2007/01/22 Mon 15:50
Register for VAT even if you don’t have to do so
THE paper-work involved in value-added tax (VAT) is a prospect that can strike fear into the heart of a busy entrepreneur. But it’s worth thinking about registering your small business for VAT, even if you don’t have to.
2006/12/07 Thu 15:13
New tax legislation amendments provide some relief for owners
IN APRIL 2000 the concept of the Personal Service Company (PSC) was introduced into the Income Tax Act to combat the sort of abuse that saw company executives who resigned report for duty the next day as "consultants" in an attempt to dodge PAYE.
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