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In South Africa, the turnover tax is a simple tax on the gross income of small businesses. Businesses that elect to pay the turnover tax are exempt from VAT. Turnover tax is at a very low rate compared to most taxes but is without any deductions. [1] In Ireland, turnover tax was introduced in 1963 [2] and followed by wholesale tax in 1966.
The Construction Charter reduced the turnover required for exemption to R1.5 million for Built Environment Professionals (BEPs), which "provide services related to but not limited to consulting engineering, architecture and quality surveying". [2] Contractors are considered exempt if they have a turnover of less than R5 million.
The tax rates displayed are marginal and do not account for deductions, exemptions or rebates. The effective rate is usually lower than the marginal rate. The tax rates given for federations (such as the United States and Canada) are averages and vary depending on the state or province. Territories that have different rates to their respective ...
The European Commission proposed rules on Wednesday to make digital companies pay more tax, with U.S. tech giants such as Google, Facebook and Amazon set to foot a large chunk of any bill. Under ...
A European Commission plan to tax the digital turnover of large companies drew scepticism on Saturday from the global rule-setting body on tax matters and some EU states, which called instead for ...
The competitive advantage is routed in preferential procurement because large businesses must spend 10% of their total recognised procurement on businesses with a turnover of less than R35 million. In addition, it is relatively easy for QSEs to achieve a good BEE score, irrespective of the percentage of black ownership, because they need to ...
Tax revenue is income that a government receives from taxpayers. Fundraising revenue is income received by a charity from donors etc. to further its social purposes. In more formal usage, revenue is a calculation or estimation of periodic income based on a particular standard accounting practice or the rules established by a government or ...
By strategically selling these investments when you qualify for the lower long-term capital gains tax rate, you can decrease the tax burden on the growth of your retirement portfolio. This ...