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Here's how to take the panic out of your business tax returns with one free tool

by , 24 April 2014
Tax can be really confusing for individuals, and it's even more so for businesses. There are so many forms to fill in and they have different submissions dates. All of this can turn doing your business taxes into a real nightmare. But there's a solution to doing this that'll make the process much easier. Use this free online tool to help you manage your business tax returns...

8 ways to LEGALLY beat the taxman
There are a few CGT loopholes that can save you thousands of rands every single year and, in some cases, let you off the CGT hook completely… 
Do your business tax return online and avoid the stress
Doing your business tax returns the old way involves going to SARS and standing in queues for hours. It means having to go there to fetch all the forms you need and then going back again to submit them. 
Why go through all that trouble when you can use SARS efiling? 
On SARS website, it clearly explains how to do a SARS efiling registration. It only takes six small steps:
1. Read and accept the terms and conditions
2. Fill in you log in details
3. Fill in your personal details
4. Fill in your business details
5. Register for a specific type of tax such as: IT12S, IT12C, PAYE, SDL, Vat and IRP6
6. Send SARS a copy of your South African ID or Passport and your eFiling summery form
And you're done. 
But what are the benefits of SARS efiling, now that you have it?
Avoid 200% tax penalty
The benefits of SARS efiling for businesses
Using SARS efiling, you can communicate with and pay SARS 24 hours a day. You don't have to stand in queues and you can find all the forms you need online. You may even your deadlines are different using SARS efiling. For example, a company paying Vat can submit its tax return on the last day of the month.
There's even a SARS efiling APP that you can download which we've discussed here.
SARS efiling makes the process of going your business tax returns painless and simple. If you're not using it, you really should be. 

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