Tax and people

▶ Income Tax: All businesses are legally obliged to register for income tax. As mentioned earlier, currently companies are automatically registered for income tax and issued a tax reference number when they register with Sars. Where a business doesn’t qualify for small business corporations’ or turnover tax, the rate of tax payable is equal to 28% of taxable income until 31 March 2022, and 27% from 1 April 2022.

In a bid to lessen the compliance burden on small enterprises, the government makes provision for turnover tax. This tax type replaces