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Tammy says: 30 September 2016 at 16:30 Does a partnership need to register for income tax if they are registered for VAT? |
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TaxTim says: 30 September 2016 at 17:07 A partnership is not a legal entity for tax purposes, the individual partners pay tax on their share of the partnership profit. |
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Tammy says: 2 October 2016 at 18:16 So even if the partnership is registered for VAT with SARS they wont need to submit an income tax return? |
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TaxTim says: 3 October 2016 at 6:50 The Partnership itself cannot submit an Income Tax Return, the partners individually will submit a tax return with their share of the profit. |
