Being tax-compliant is a legal requirement for all South Africans. SARS says it will be unrelenting in driving voluntary compliance in pursuing the 2024/25 tax revenue target of R1,840.8 billion. To expand the tax base, detect dishonest taxpayers, deal with tax avoidance, expand debt collection, and improve service levels, SARS will: Deploy more data science […]
Of course you plan for your business to grow. But in an environment of constant change, it can be hard to know where to place your energy. These three focus areas will help you position your business for growth, regardless of the external circumstances. Clean up your finances A business that’s ready for growth is […]
06 December – Monthly Pay-As-You-Earn (PAYE) submissions and payments 24 December – Value-Added Tax (VAT) manual submissions and payments 30 December – Excise Duty payments 31 December – Corporate Income Tax (CIT) Provisional Tax payments 31 December – End of the 3rd fiscal quarter 31 December – Value-Added Tax (VAT) electronic submissions and payments
Without revenue targets, businesses are unable to measure their performance against past years, reward employees, or accurately forecast and plan. Targets set by leaders for individuals or teams can shape morale and expectations for employees and bring accountability to team actions. But it doesn’t always work like this. You might have found yourself in the […]
There’s no requirement or obligation for companies to host a year-end party for employees, clients or suppliers. This is true even if there’s a company tradition of an end-of-year bash, or where there may be expectations of a year-end party for clients or suppliers in certain industries. Read on for the lowdown on the pros, […]
With an increasing amount of business being conducted online, it’s perfectly possible to live in one country and earn an income in another. If you are conducting services for global corporations and earning foreign income in another country, you could get caught up in a world of tricky tax situations. Under these circumstances, you can […]
Every business should conduct an extensive review of its business operations at least once a year. Doing a review allows you to track your company’s progress towards achieving its goals, to evaluate current strategies, practices and operations, and to determine what’s working and what isn’t. Think of it like going to the doctor for an […]
07 November – Monthly PAYE submissions and payments 25 November – Value Added Tax (VAT) manual submissions and payments 28 November – Excise duty payments 29 November – VAT electronic submissions and payments, Corporate Income Tax Provisional Tax payments where applicable.
There have been significant shifts in the corporate income tax landscape in South Africa and globally. Recent trends noted by the OECD and The Tax Foundation include: Statutory corporate income tax rate changes in 13 countries in 2023 A reversal of a two-decade downward trend in corporate tax rates An increase in the average global […]
Good business leaders recognise that regular employee performance reviews play a vital role in improving transparency, identifying talent, and enhancing performance – yet often this process is handled in a casual fashion or even not implemented at all. In fact, a recent study revealed that only 13% of employees and managers, and only 6% of […]
