Tax Service

Cost Effective Gauteng Tax Service

The South Africa Revenue Services (SARS) requires all individuals and business entities to pay tax by law. If you are seeking assistance with arranging and paying tax, you should take on the professional and reliable tax services of a registered tax practitioner. Any bookkeeping or accounting company offering a tax service will ensure that you are aware of all the ins and outs involved in paying tax and being properly registered.

When taking on a tax service you will learn that only companies exceeding an income of R100 000 per annum are required to register for VAT. Any company paying out salaries will also need to register for and pay UIF (Unemployment Insurance Fund), SDL (Skills Development Levy) and PAYE (Pay As You Earn). In fact there are various forms of tax that a business will need to register for. Individuals will pay a different type of tax which is subject to their earnings.

Individual’s tax year runs from 1 March to 28 February each year. As a company or individual it is legally required for you to register for tax and failing to do so could result in legal action and large penalties. Most bookkeeping and accounting companies can assist with tax services such as personal tax returns, e-filing and provisional tax returns.

When taking on a tax service you will be fully informed of what you can potentially be penalised for. This includes failure to register to be a tax payer, failure to notify SARS of a change of details, not submitting supporting documents to SARS and failure to submit SATS tax returns. The penalty you will be expected to pay will be worked out according to your income range per month.

When looking for a professional, reliable and affordable tax service, take the time to contact Shamu Bookkeeping Services. This particular Gauteng accounting firm will ensure that you are provided with a service that is absolutely second to none.

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