Finance Minister Enoch Godongwana’s 2025 Budget proposes several key tax and fiscal changes that will directly impact individuals and businesses. The most notable change is the phased increase in VAT, with a 0.5 percentage point hike planned to take effect on 1 May 2025 and another on 1 April 2026, increasing the VAT rate from […]
07 March – PAYE submissions and payments 25 March – VAT manual submissions and payments 28 March – Excise duty payments 31 March – End of the 2023/24 Financial year, VAT electronic submissions and payments, & CIT Provisional Tax payments where applicable.
Many think of corporate travel expenses as being a non-negotiable, and expensive part of doing business. The thing is, it is possible to cut back on travel expenses without cutting out the necessary requirements and little luxuries. Here are our four top tips for saving money on your corporate travel account. Plan ahead Most corporate […]
Deciding whether to buy or lease equipment can sometimes seem like an impossible choice. There are so many factors at play that it can feel like whatever you do will be wrong. We’ve put together a short list of five things to consider that should make the process a little easier. When do you need […]
07 February – Monthly PAYE submissions and payments 25 February – Value Added Tax (VAT) manual submissions and payments 27 February – Excise duty payments 28 February – VAT electronic submissions and payments, Corporate Income Tax (CIT) Provisional Tax payments where applicable, and Personal Income Tax (PIT) Provisional Tax payments.
What is provisional tax? Provisional tax allows corporate and individual provisional taxpayers to pay their annual income tax in advance by making two or three payments during a tax year. The aim is to prevent taxpayers from facing large income tax liabilities that are only revealed at the end of the year of assessment, when […]
A balance sheet reveals a company’s “book value” by showing what assets it owns, what liabilities it owes, and the equity or net worth attributable to its owners, at a specific point in time. Because all resources or assets are either funded by borrowing (liabilities) or owner investments (equity), the fundamental accounting equation that underpins […]
Trying to get a business off the ground is challenging. Every step of the process requires a mountain of time and investment. Choosing between going it alone or involving others as partners or investors is a decision that should not be taken lightly. In this article we’ll break down the options available and take a […]
07 January – PAYE submissions and payments. 20 January – End of Filing Season 2024 for Provisional taxpayers & Trusts. 24 January – VAT manual submissions and payments. 30 January – Excise duty payments. 31 January – VAT electronic submissions and payments, & CIT Provisional Tax payments where applicable.
Want to start a business? SARS warns you to be aware of the tax obligations of running a business, whether it’s in the form of a legal entity or in your personal capacity. Considering the tax implications before starting a business will result in substantial benefits down the line. These include better budgeting and cash-flow […]
