SABC News - Small businesses to be brought into tax fold:Tuesday 12 September 2017

Small businesses to be brought into tax fold

Tuesday 12 September 2017 20:57

SABC

Small businesses already benefit from a lower corporate tax rate than the 28% paid by big business.(SABC)

Bringing more small businesses into the tax fold will curb unemployment and narrow the tax gap. That was the message driven at the second day of the Tax Indaba currently underway in Johannesburg.

The Indaba is addressing tax avoidance, policy awareness, and tax incentives to grow businesses.

Tax revenues are under pressure, but demands on the country's coffers increasing.

It's that dilemma which had delegates talking about how small business growth can help create jobs and contribute to the fiscus.

Small businesses already benefit from a lower corporate tax rate than the 28% paid by big business.

Then there's the employment tax incentive which encourages companies to hire younger people. But are small businesses complying?

Tax Indaba seeks to involve all tax professional bodies in South Africa. Every year, the Tax Indaba seeks to add new variety and talent to benefit tax professionals who are seeking to refresh their knowledge and to learn about new tax-related developments.


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