Tax season upon us again
Tax payer engagement equipping residents and businesses with vital information about tax.
There is a popular saying which says, “Only two things are certain in life and those are tax and death.”
It basically means one cannot avoid the two.
It’s that time of the year again, when South Africans have to file their tax returns.
Tax season runs from July to November every year.
During tax season people need to submit their Income Tax Return (ITR12).
This enables South African Revenue Services (SARS) to calculate tax on ones income and tax deductable expenses for that particular year.
To prepare the tax season, SARS held a tax payer engagement with residents and small businesses in Protea Glen on Thursday last week.
A representative from SARS Gezani Chauke gave residents and small businesses vital information about getting ones taxes in order.
Businesses only pay tax when they are making profit however, all businesses should file their tax returns.
Deductable tax is calculated according to the amount of profit made in that particular financial year.
“Taxes are very important because they are used to help those who can’t help themselves in this country,” said Chauke.
They help them in a form of health, education and other essential services and facilities provided by government to the people.
Chauke encouraged people and businesses to take pride in their country by paying their taxes.
To avoid getting in trouble with the law residents should visit their nearest SARS office for more information on how to file their tax returns.
