Finance Minister Enoch Godongwana’s 2025 Budget proposes several key tax and fiscal changes that will directly impact individuals and businesses. The most notable change is the phased increase in VAT, with a 0.5 percentage point hike planned to take effect
07 March – PAYE submissions and payments 25 March – VAT manual submissions and payments 28 March – Excise duty payments 31 March – End of the 2023/24 Financial year, VAT electronic submissions and payments, & CIT Provisional Tax payments
If you don’t agree with an assessment from SARS, swift action and careful management of the dispute process will maximise your chances of a favourable outcome. This is because various deadlines must be met, a payment suspension must be requested,
At JHCO Financial Services, we understand that ceasing to be a South African tax resident involves navigating a detailed and often complex process. With our expertise, we ensure you’re guided every step of the way, making the journey as straightforward
SARS is cracking down on overdue Corporate Income Tax returns, with penalties outlined under Section 211 of the Tax Administration Act: Administrative penalties from R250 to R16,000 per month, based on turnover. Late submission penalties of 10% of taxable income
“Together, government and business can drive the messages that matter most, which are those of resilience, opportunity, and shared prosperity.” (Minister of Finance, January 2025) Finance Minister Enoch Godongwana has invited the public to share suggestions on the 2025 Budget
The second provisional tax deadline for the 2025 tax year is just days away (28 February 2025). It’s the trickiest and most important provisional tax deadline of the tax year, because the income estimates on which it’s based must be
07 February – Monthly PAYE submissions and payments 25 February – Value Added Tax (VAT) manual submissions and payments 27 February – Excise duty payments 28 February – VAT electronic submissions and payments, Corporate Income Tax (CIT) Provisional Tax payments
07 January – PAYE submissions and payments 20 January – End of Filing Season 2024 for Provisional taxpayers & Trusts 24 January – VAT manual submissions and payments 30 January – Excise duty payments 31 January – VAT electronic submissions
Starting a new business isn’t just a challenging undertaking. It also comes with a list of tax liabilities and administrative obligations. Not to mention an impact on the business owner’s personal tax affairs. This overview highlights not only the compelling
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JHCO assists companies to be sustainable and grow into the future. We are passionate about business and realised the positive impact fintech can have on startups, growing and maturing businesses.
