Due to the national lockdown that applies in South Africa Small and Medium Enterprises (SMME’s) are negatively impacted. This is also affecting their employees. Please find some information that applies to most businesses.
On 1 March 2020 the much talked about Tax on Foreign Income became a reality in South Africa. The question on everybody’s lips is: “Does this new tax apply to me?”
You can operate your business using a: - Sole Proprietorship (that is trading in your private capacity) - Partnership (that is in your private capacity with other individuals in the private capacity) - Business Trust - Private Company ((Pty) Ltd – Company with limited shares holders) - Public Company ((Pty) Ltd – Company with unlimited shares holders) - Personal Liability Company (Inc.) - External Companies (Branches of foreign companies)