Print Page   |   Report Abuse
News & Press: SARS News & Tax Administration

Davis Tax Committee: Small & Medium Enterprises: Taxation Considerations, Interim Report, July 2014

14 July 2014   (0 Comments)
Posted by: Author: Davis Tax Committee
Share |

Author: Davis Tax Committee

The Davis Tax Committee: Small and Medium Enterprises: Taxation Considerations, Interim Report, July 2014 was released earlier today for public comment. 

In essence, the report covers the following: 

  • The role of SMEs in the economy;
  • The definition of a small business;
  • Challenges facing SMEs, especially the tax compliance burden;
  • A review of income tax incentives for ‘small business corporations’;
  • A review of the income tax incentive for ‘venture capital companies’ to fund small businesses;
  • A review of the alternative presumptive turnover tax system for ‘micro businesses’;
  • A review of the Value-Added Tax requirements for SMEs;
  • The impact of the new Employment Tax Incentive on SMEs.

The SAIT will be making a submission to the Davis Tax Committee on the interim report. It is requested that all comments be sent to taxtech@thesait.org.za by no later than close of business on 27 August 2014. 

Please click here to access the media statement.

Please click here to access the Davis Tax Committee: Small and Medium Enterprises: Taxation Considerations, Interim Report, July 2014.


WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

Membership Management Software Powered by YourMembership  ::  Legal