Monthly Bookkeeping - If you are the owner of a smaller business, monthly bookkeeping may have been all you required to keep accurate financial records and projections.
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Value-Added Tax is commonly known as VAT. VAT is an indirect tax on the consumption of goods and services in the economy. Revenue is raised for the government by requiring a business that carries on an enterprise, to register for VAT. In doing so, the business will charge VAT on supplies of goods and services made by it, on the importation of goods and on imported services (subject to certain conditions).
What does Ring-Fencing a Loss mean?
Ring-fencing the loss simply means that the amount gets carried over to the following year and can only be set off against income from the same trade.
Cryptocurrency is a digital currency in which transactions are verified and records maintained by a decentralized system rather than by a centralized authority.
Annual Financial Statements refer to the annual presentation of the entity's financial performance.
Tax planning is the analysis of a financial situation or plan to ensure that all elements work together to allow you to pay the lowest taxes possible.
7 Tax Deductions, - Contributions towards retirement fund, Medical Expenses, Giving to Charity, Wear and Tear on personal assets, Home Office Expenses, Travel Claim, Commission expenses (only for commission earners!)
SARS Auto-Assessments is an automatic assessment issued by SARS to certain taxpayers
You will be charged Administrative Penalty (Admin Penalty) by SARS. This is a penalty levied under Section 210 of the Tax Administration Act (TAA).
Your business’ financial management is just as important (if not, more so) as the value your company offers to the market.
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