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I require information on turnover tax requirements.

Posted 9 March 2016

Lady said:
9 March 2016 at 11:50

I am starting a small business and was looking at turnover tax as an option. The manual turnover will be under 300k. Do I need to register or is it only a requirement if you are earning over the allowed amount. Is turnover tax after expenses or on the total amount paid into the company bank account.

TaxTim Nicci TaxTim Nicci said:
9 March 2016 at 14:50

You would need to register with SARS and the Turnover amount is the amount earned before expenses.

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