Tax compliance, obstacles encountered by small and medium enterprises in South Africa

September 25, 2011
70 Comments , on Articles, Tax news, by

Tax compliance, obstacles encountered by small and medium enterprises in South Africa – Taxation
W Abrie and E Doussy from University of South Africa conducted a meditary accountancy research in as to what are the tax compliance obstacles faced by SMEs in South Africa.

“It is internationally acknowledged that small and medium enterprises (SMEs) play a vital role in enhancing a country’s economic growth and in creating jobs. It is therefore in the public interest and in the interests of all governments to support SMEs.”
 
A study concentrating on the tax function in small and medium manufacturing concerns operating in the Gauteng Province in South Africa was recently undertaken. In the article (available on request), which is based on the study, the authors identify the main problem areas that manufacturing SMEs in the Gauteng Province have to cope with in administering government taxes. The article discusses the administration process only, and not the taxes themselves.
 
The authors have identified tax compliance requirements in South Africa as a stumbling block for SMEs. They suggest that the government seriously consider reducing the number of taxes SMEs have to administer, reduce the compliance requirements and make additional tools available to SMEs to assist them in administering taxes.
 
In 2009/10 fiscal year single “turnover” tax was introduced for small businesses and an attractive tax band offered to businesses which qualify as Small Business Corporations. In my opinion therefore, there has been a steady response from Government and related institutions in regard to minimizing red tape and burden of doing business by SMEs.
 
At iabc, we further believe that sometimes the burden and challenges faced by SMEs would be minimized via outsourcing for technical issues such as taxation, accounting and financial management to suitably qualified practitioners and consultants so then the business owners concentrate on what they do best, Business!

More in this category: IABC Operating Timelines Amid Safety Concerns | IABC Group » Business Rescue – Changing the Landscape of Business Advising in South Africa » Salary payment still best option for business owners » Sars’ revenue collection increases by 6.3% y/y, but misses Treasury target – This Could Only Mean One Thing for Tax Payers » Impact of the Vat Change Effective 01 April 2018 on Transactions » Value Added Tax (VAT) from 14% to 15%, effective 01 April 2018 » Job disruption is coming to accounting too » » HIGH LEVEL SUMMARY OF PERSONAL TAX CHANGES ARISING FROM THE 2018/19 BUDGET SUBMISSION » IABC – NOW A GOLD LEVEL SAGE RE-SELLER FOR SAGE PRODUCTS » How Compliant is your VAT Administration? » 2012 Tax Season is Open » Softline Pastel Accounting & Payroll » Audit vs. Independent Review for Companies » POTENTIAL RISKS WHEN BUYING A BUSINESS – BUSINESS DEVELOPMENT » Leasing vs. Buying – Corporate Finance » Security around VAT Registrations and administration – Taxation » ENTERPRISE RISK MANAGEMENT » 2011 Message from the MC » SEVERE NON-COMPLIANCE PENALTIES – (Taxation) » Importance of Sound and Effective Business and Financial Controls – Enterprise Risk Management » OUTSOURCING – Business Management »
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