Afri-Biz Chain

25/03/2023

25/03/2023

let us help you avoid this:

"Eastern Cape man slapped with R100,000 fine for R11.5m in tax evasion"

"A 33-year-old Eastern Cape man has been fined R100,000 or two years' imprisonment, half of which was suspended for three years, for R11.5m in tax evasion"

https://www.timeslive.co.za/news/south-africa/2023-03-25-eastern-cape-man-slapped-with-r100000-fine-for-r115m-in-tax-evasion/

26/11/2022

Congratulations to Mathabo Zandile Makhaya for winning SAICA

The Top 35-under-35 2022 Overall winner is Mathabo Zandile Makhaya
(Group financial manager at Harmony Gold Mining, Chairperson of investment committee mineworkers provident fund)

02/11/2022

Financial Statements are key to assessing your financial performance.

09/11/2021

What is PAYE, who should pay and when should it be paid?

Who should register for PAYE?
• Any employer
• Employs people and pays them a salary of at least R6 950 per month.

When should the employer pay PAYE?
• Within seven days after the end of the month.

If you want us to help you register your business for PAYE and submit PAYE returns, please contact us for a quote.

08/11/2021

What is VAT, who should pay VAT and when should it be paid?

• Mandatory for companies making or expecting to make R1 000 000 sales
• Voluntary for companies making or expecting to make R50 000 sales
• Submit returns 6 times, 2 times or 12 times a year depending on year end.

If you want us to help you register your business for VAT and submit VAT returns, please contact us for a quote.

02/11/2021

What is Provisional income tax and when should it be paid?

SARS requires that this tax be paid in at least two equal installments (provisional taxes (IRP6s).
o 1st and second provisional tax
o 1st is due within six months of the start of the financial year
o 2nd is due at the end of financial year
o There might be a third payment where the actual profit (taxable income)

If you want us to help you submit your business income tax returns, please contact us for a quote.

12/10/2021

What is Normal Income Tax and when should it be paid?

• Tax on profits (Taxable income)
• When one registers on CIPC, they are automatically registered.
• Return (ITR14) submitted/declared within 12 months of financial year end.

If you want us to help you submit your business income tax returns, please contact us for a quote.

29/09/2021

What are the different types of taxes applicable to RSA SMMEs?
There are various types of taxes that companies should/may comply with but the common ones are;
• Normal income tax
• VAT (Value Added Tax)
• PAYE (including UIF and SDL)

If you want us to help you register for different tax types, please contact us for a quote.