Being tax compliant with SARS means that your SME is following all the rules as laid out by law. One of the easiest ways you can ensure this does not become a tedious process is by keeping your books up to date, detailed and clean from the start. Or get help from a tax expert to do so.
There are huge benefits to keeping the books updated:
- You always have accurate data to share with SARS.
- You can easily report into financial statements, and
- You can make tax predictions which means easy planning.
Do not over complicate the process. Simply ensure that you always submit your returns and that you do so on time. Keep track of all payments and invoices for your own record and for SARS.
As a SME owner, we know it can be challenging as your business grows. This will become a more demanding process over time. To avoid the admin burden, consider using a tax expert to take this off your hands and keep the books up to date on your behalf.