Income tax is the Governments main source of income and is levied in terms of the Income Tax Act, 1962.
Any Person who becomes liable for income tax or who becomes liable to submit a return of income must register as a taxpayer with the South African Revenue Service (SARS) within 60 days after so becoming a taxpayer.
An employee for example must register for income tax if, for example, he or she receives employment income that exceeds R 60 000 for the year of assessment. You will also need to register for income tax if you would like to purchase a property in South Africa.
You might also need your proof of tax registration in South Africa to be able to register as a non-tax resident in your home country. Most countries require seeing proof of your new country of residence first, and especially evidencing that you registered yourself with the tax authorities in your new home country, before they deregister you from their records.
Incompass can assist you with all new business registrations advising which are applicable and taking care of all formalities.
Contact us if you would like to learn more about tax registrations South Africa.
At Incompass Financial Services we believe that quality service starts from your very point of contact with us. To this end we endeavour to answer all enquiries and e-mails within 24 hours.
In the event your enquiry is of an urgent nature please feel free to telephone us.
“We look forward to being of assistance to you with your tax registrations South Africa.”
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