In the case the place you are already registered as a company and also you meet certain qualifying requirements, you might register as a small business company to find a way to get additional tax incentives. One of the incentives for SBCs is a lowered corporate tax fee. Click right here to see reduced tax charges for small companies. If you’re beginning out and need to register as a company, you will have to contact the Company and Intellectual Property Commission , formerly called CIPRO. Please notice that Companies are first required to register with the workplaces earlier than registering with SARS for an Income Tax reference number, click here for CIPC.
- Employees of small companies also should adapt to the higher failure price of small firms, which means that they are extra likely to lose their job as a end result of firm going beneath.
- While he was serious