The Budget

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By Harshik Jasmat

As part of the tax administration process, the registration process for multiple tax types will be streamlined and simplified and the income tax form for small businesses will be simplified to allow for fewer fields to be completed/fewer disclosures to be made.

A new automated tax clearance system will be implemented later this year to ensure that taxpayers doing business with the government are fully compliant. This will impact companies tendering for government work as they will need to ensure that their taxes are fully up to date before they will be allowed to do business with government.  Companies receiving payments from the state on tenders will also need to ensure that they have fully disclosed all their taxes to SARS.