April 6, 2020

COVID-19 Relief Mechanisms

Small Business Sector Tax Relief SARS TAX RELIEF IS NOT AUTOMATIC If the company can afford the tax liability, the company is required to pay the full amount.  Proof to be provided that company is unable (due to the effect of COVID-19) to pay the liability.  Tax relief is aimed at distressed companies. Contributions to UIF and SDL Potential temporary reduction in employer and employee contributions to both UIF and SDL. Requirements are still to be confirmed. Delay of payments of taxes Relief Options Requirements PAYE liabilities Defer 20% of prospective PAYE liability over the next 4 months Turnover ≤ […]
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