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

Tuesday, 24 February 2015   (0 Comments)
Posted by: Author: SAIT Technical
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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).

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.

Disclaimer: Nothing in this query and answer should be construed as constituting tax advice or a tax opinion. An expert should be consulted for advice based on the facts and circumstances of each transaction/case. Even though great care has been taken to ensure the accuracy of the answer, SAIT do not accept any responsibility for consequences of decisions taken based on this query and answer. It remains your own responsibility to consult the relevant primary resources when taking a decision.



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.

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