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
Value-added tax (VAT) was introduced in South Africa on the 29th of September 1991 to replace GST (General Sales Tax) as an indirect system of taxation. It is an indirect tax on the consumption of goods and services in the economy. The current standard rate of VAT in South Africa is 15%. A person with an
If you still use spreadsheets and physical bank statements, bills and receipts to track your company’s finances, then you will know how error-prone and time-consuming it is. There are two ways to solve for this: Pay an accountant to capture and reconcile your transactions in a proper accounting system. Do it yourself You can save
If you intend to grow your business from micro to small to medium, you will need discipline and diligence, especially when it comes to your business’s finances. Typically, SMEs do not have an in-house accountant, meaning that this critical business function is then outsourced. CN Outsourced Finance provides business advisory solutions for small to medium
