turnover tax

  1. L

    Tax question: Do I have to file ITR12 when on Turnover Tax?

    Hi all, I pay Turnover Tax for my sole prop, and last year I did not receive an IT34. I called SARS and the lady on the phone told me I had to file ITR12, which was new to me. She suggested I would file a 0-based ITR12 with regards to income from business. I reckoned that TT takes away the...
  3. Jan

    How to register for Turnover Tax and pay as little as 0% tax on your small business

    Small businesses in South Africa can pay 0% tax — here is how Turnover Tax lets small businesses in South Africa reduce their company tax from the 28% rate that SARS levies on profits to as little as 0%. A variety of businesses with an annual turnover of less than R1 million qualify for...
  4. d0b33

    Turnover Tax - what to submit and when?

    Update: Turns out turnover tax is such a nightmare even a tax practitioner I consulted suggested I avoid it. I've tried searching for clarification on this but could not find any, if it's been answered before I'll delete this... My company is registered for Turnover Tax, but I've yet to do a...
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