How is company tax calculated?

If a company has a turnover of R1 million on a specific month, cost of sales is R600 000, with a GP of R400 000, but overheads exceed that amount, is any company tax payable?

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TaxTim TaxTim says:
22 March 2013 at 10:09

You only pay tax on profits, not losses. The loss will be rolled forward each year and offset against any profits you do make in the future.

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