SARS Makes SMME Tax Compliance Easier
Tax compliance among Small, Medium and Micro Enterprises (SMMEs) has been forced into the spotlight by The South African Revenue Service (SARS) who in January launched a new monthly newsletter dedicated to the sector. The January issue covered the matter of tax compliance and revealed a number of new initiatives by SARS to streamline services and encourage smaller businesses to meet their tax obligations.
While SARS indicated that the aim of the new newsletter is to generally “share relevant information pertaining to your SMME’s tax affairs and interaction with SARS [and help] you better understand how to meet your compliance obligations” it’s clear that by so comprehensively dealing with compliance in the first issue SARS has earmarked the area as being of major concern and a focus going forward.