The Big Change Blog

Subscribe by email

Subscribe by rss

The Big Change Feed What is a RSS feed?

Budget speech good for entrepreneurs and SMEs

PKF, the chartered accounting and business advisory firm that specialises in servicing growing and entrepreneurial companies, is positive about this year’s budget speech. Tax specialist DR ROBIN BEALE explains why.

Dr Robin BealeThe new simplified, turnover-based tax system for small businesses, announced by Trevor Manual in his budget speech today, is to be welcomed, even though some caution is in order.

The simpler tax matters are for the small business, the better. The new turnover-based tax proposed for these businesses will be a combination of VAT and income tax, with business owners paying tax on their total turnover without making any deductions for expenses. However, there is a danger that small, unsophisticated businesses could unwittingly miscalculate their taxes. Therefore a simpler turnover system is preferable.



Keep reading →

Comments Off on Budget speech good for entrepreneurs and SMEs

Posted in the category: Economy, Insight, Trends

More Posts

About

The Big Change is a business strategy blog and newsletter published by Arthur Goldstuck, managing director of World Wide Worx, a leading technology research organisation based in Johannesburg, South Africa.

Read more ...