Calls for tax proposals
Fin24

Calls for tax proposals

2013-11-06 14:08

Cape Town - The Davis Tax Committee (DTC) has called for proposals on tax packages to help stimulate small business enterprises.

"Top priority of the DTC at the moment is to address ways in which the tax system can be improved to facilitate entrepreneurship and the growth of small businesses," it said in a statement on Wednesday.

The DTC was established earlier this year by Finance Minister Pravin Gordhan, and tasked with examining the role of the tax system to promote growth, job creation, sustainable development, and fiscal self-reliance.

Various tax packages already existed to encourage small businesses.

According to the DTC, it needed to review these to find an optimal tax package that helped small businesses contribute towards economic growth and reduce the high unemployment rate.

It called for "urgent contributions" in this regard before November 20 this year.

The commission also called for proposals on the tax burden and tax mix to reach it by November 30, as well as for proposals on so-called base erosion and profit shifting before January 31. These should be sent via e-mail to taxcom@sars.gov.za.


Comments
  • paul.john.790256q - 2013-11-07 03:08

    This is easy... Give small business a tax break for the first three years of trade. It is ridiculous that you should effectively have a 28% silent partner (SARS) taking a large part of your profits while the business is struggling to take off.

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