INCOME TAX AND PAYE
Mvinj Tax Consulting
Tax registrations, Small Businesses and Individuals
A REASON TO CONTACT MVINJ TAX CON....
Small Businesses and Individuals
- If you are starting your own business. A business may need to register for various forms of tax. The tax consultant will be able to advise you for which tax you should register.
- 1. VAT. If your business’ projective income exceeds R1000 000 per annum you need to register for VAT. Voluntary VAT registration can be done if the business’ projective income is over R20 000 per month.
- 2. Pay as You Earn (PAYE) tax. This type of tax is applicable to all employers that has employees who earns salary. If you have employed employees you need to be registered for Pay As You Earn (PAYE) and sibmit what ever you deduct from employees to SARS.
- 3. Income tax (IT). If you earn less than R120 000 per annum you don’t need to submit a return to SARS. If you earn more than this in a given year, you need to contact a tax consultant to advise you with regards to the Income Tax return process
, Tax registrations