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Chapter 14
Related Sections
1
INTRODUCTION
2
Categories of SMMEs
3
TYPES OF BUSINESSES
4
Sole trader or sole proprietor (Owner)
5
Partnership
6
Close Corporation (CC)
7
Company
8
Co-operatives
9
REGISTRATIONS AS A NEW EMPLOYER
10
Summary of the statutory registrations required for employers
11
Employee’s tax – PAYE
12
Unemployment benefits (UIF)
13
Skills Development Fund and Levy
14
Compensation for Occupational Injuries and Diseases (COIDA)
15
Occupational Health and Safety
16
Formalising the employment relationship with employees
17
INCOME TAX
18
Provisional tax
19
How to register as a taxpayer
20
What happens if you do not pay tax or pay late?
21
SARS eFiling
22
VALUE-ADDED TAX (VAT)
23
VAT vendors
24
Who should register as a VAT vendor?
25
How do you register for VAT?
26
How does VAT work?
27
BUSINESS LICENCES
28
What types of business need a licence?
29
How to get a business licence
30
Does the business licence have to be renewed?
31
What happens if a person sells food and does not get a business licence?
32
Informal trading and hawking
33
EXPORTING AND IMPORTING
34
Permits for exporting and importing
35
Goods that are subject to export and import controls
36
Registering as an exporter and importer
37
ADMINISTRATION SKILLS FOR SMALL BUSINESSES
38
Bookkeeping
39
Payroll and personnel records
40
Other important records
41
Filing
42
Filling in forms
43
SUPPORT FOR SMMEs
44
The Small Enterprise Development Finance Agency (SEDFA)
45
Thusong Service Centres
46
National Small Business Advisory Body
47
PROBLEMS
48
Problem 1: What type of business to start
49
Problem 2: Starting a business which needs a business licence
50
Problem 3: Is being a VAT vendor worth it?
51
Problem 4: Drawing up a business plan
52
MODEL LETTER
53
Model letter of appointment
54
CHECKLISTS
55
Checklist: When starting a business
56
Checklist: Business Licence Types

How to register as a taxpayer

If you want to register as an individual taxpayer you must visit a SARS branch where you will be registered on the system. You must submit your proof of identity, proof of address, and proof of bank details.

Once you have registered for tax and given your tax number, you can register on eFiling and file income tax returns online when tax season starts. If you do not register for eFiling SARS will send you a form that you must complete and return to them.

SOLE TRADERS AND PARTNERSHIPS

If you are a sole trader or a partner in a partnership, this is all you have to do to register.

CLOSE CORPORATIONS AND COMPANIES

If you are starting out and need to register a company, you will have to contact the Company and Intellectual Property Commission (CIPC). You first need to register with the CIPC offices before you register with SARS for an Income Tax reference number. Once a taxpayer has registered with CIPC, SARS will automatically generate an Income Tax reference number. The taxpayer must then register on eFiling to continue the process electronically.