How do I move a company from the income tax regime to the turnover tax regime?

Author: SAIT Technical

Q: Kindly explain the process to change a company's normal income tax to a turnover tax?

A: A company or individual can apply to be taxed on the turnover tax method by applying to SARS for registration for turnover tax prior to the start of the year of assessment on a TT01 form (i.e. before 1 March if the company or individual has a 28 Feb tax year).

http://www.sars.gov.za/AllDocs/OpsDocs/SARSForms/TT01%20-%20Turnover%20Tax%20Application%20Form%20-%20External%20Form.pdf

Per SARS turnover tax guide at 3, the completed for must be submitted to SARS at the branch "drop box" and cannot be submitted on SARS eFiling.

http://www.sars.gov.za/AllDocs/OpsDocs/Guides/TT-GEN-01-G03-%20Guide%20for%20Completion%20of%20%20Turnover%20Tax%20Application%20Form%20TT01-%20External%20Guide.pdf

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