by Northbound | Nov 1, 2023 | Tips from Northbound
South Africa operates a VAT system whereby businesses (vendors) are allowed to deduct the VAT incurred on business expenses (input tax) from the VAT collected on the supplies made by the business (output tax). The most important document in such a system is the tax...
by Northbound | Nov 1, 2023 | Tips from Northbound
VAT vendors who make taxable supplies of goods or services are obliged to issue tax invoices to the recipients of such supplies within 21 days of having made such a supply. A valid tax invoice is of utmost importance because without such a document a vendor, being the...
by Northbound | Nov 1, 2023 | Tips from Northbound
In previous financial years, there was no limitation on utilizing an assessed loss against current year taxable income. A new proposal was enacted in terms of the Taxation Laws Amendment Act of 2021 and came into effect for years of assessment ending on or after 31...
by Northbound | Nov 1, 2023 | Featured Client of the Month
Ibayi Bolt, Nut, Fasteners, Port Elizabeth is a family concern comprising of two executive members of which one member has 20+ years of experience in the bolt and nut industry. Our experienced staff have a combined amount of 30 years of experience in the business,...
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