Tax Guide for Small Businesses (2021/2022 issue)
SARS has published the 2021/2022 issue of the Tax Guide for Small Businesses
This guide does not constitute an “official publication” as defined in section 1 of the Tax Administration Act 28 of 2011 (“TA Act”) and does not create a practice generally prevailing under section 5 of that Act. It is also not a binding general ruling under section 89 of Chapter 7 of the TA Act.
The guide is a general guide dealing with the taxation of small businesses such as sole proprietors, partnerships and companies not part of large groups.
The guide covers the following topics:
- General characteristics of different types of business
- A business and the South African Revenue Service
- A business and other authorities
- Duty to keep records, retention period in case of audit, objection or appeal and records
- Appointment of auditor or accounting officer
- Representative taxpayer
- Tax clearance certificates and Tax Compliance Status
- Non-compliance with legislation
- Interest, penalties and additional tax
- Request for correction
- Objection against assessment of decision
- Dispute resolution
- Complaint Management Office
Find a copy of the guide here.
3/11/2022
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