Turnover Tax is dangerous for small business

DON’T BE FOOLED!Warning: New Turnover Tax from SARS could be SARS’s way of ripping you off!Remember the saying: When it sounds too good to be true, it probably is!Why would SARS offer you a New Tax System if they were going to make less money?Of course they are going to make more money out of Turnover Tax, and it’s going to be at your expense!And this is how they are going to do it:They are going to try convince thousands of young small businesses to give up their virtual NO TAX status for one in which they could be liable to pay up to R30 440 EXTRA TAX EACH YEAR!The only reason SARS can give is that you may need to fill in 7 or so less TAX FORMS!But who cares?For R30 440 I’ll fill in 20 extra forms!

via Turnover Tax is dangerous for small business.

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