Tax season 2023 – what businesses should know

With tax season fast approaching, iKhokha has given 8 tax tips for businesses in South Africa.

With tax season fast approaching, experts at iKhokha have given eight tips to help businesses get through the stressful period.The South African Revenue Service has already updated its mobile filing platform in preparation for the season and has started to populate taxpayer profiles with available third-party data.

Applications can be made online, and the minimum registration fee is R125, with an additional R50 to reserve a chosen name for the company. Although SARS used to only be able to issue penalties if there were two or more outstanding returns, a law change in 2021 allows the tax collector to penalise those with only one outstanding return.

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