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COVID- 19 TAX RELIEF MEASURES & RESOURCES​
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Looking for some help during these challenging times? take a look at our Covid-19 resource hub for small businesses. 

Discussion

Small Business relief funds

1. Business Growth Facility:

This facility will fund the following:

a. Production/supply of health care and related products that will be utilized to combat the spread of COVID-19 pandemic.
b. Local production/manufacturing/supply of various products that will be required by the country emanating from a shortage due to COVID-19 pandemic.

The rationale for the facility:

a. The funding will give local manufacturers and suppliers an opportunity to produce and strengthen their place in the market, which may lead to long term contracts post the COVID-19 pandemic.

Funding terms:

a. The facility will offer working capital (only direct costs), stock,... (More)

Discussion

Tourism Relief Fund

The Tourism Relief Fund provides once-off capped grant assistance to Small Micro and Medium-Sized Enterprises (SMMEs) in the tourism value chain to ensure their sustainability during and post the implementation of government measures to curb the spread of Covid-19 in South Africa.

Capped at R50 000 per entity, grant funding can be utilised to subsidise expenses towards fixed costs, operational costs, supplies and other pressure cost items.

Guided by the Tourism Broad-Based Black Economic Empowerment (B-BBEE) Codes of Good Practices approved by the Minister of Trade and Industries in 2015 (in line with the BBBEE Act No.53 of 2003), the... (More)

Discussion

HOW TO APPLY FOR THE WAIVING OF PENALTIES FOR TAX DEBT

1. Larger businesses (with a gross income of more than R100 million) that are incapable of making payment due to the COVID-19 disaster, may apply to defer tax payments without incurring penalties by emailing SARS on COVID19IPAaboveR100m@sars.gov.za

2. Similarly, businesses with a gross income of less than R100 million can apply for an additional deferral of payments without incurring penalties by emailing SARS on COVID19IPAbelowR100m@sars.gov.za

3. For more information on the requirements and documents to include in the application, visit the How do I query my debt webpage.

Discussion

Do other tax deadlines change?

NO extensions granted by SARS for tax compliance obligations, despite the lockdown. 

Upcoming deadlines:

• VAT returns and payments due 30 April and last business day of each month-end thereafter (eFiling)

• EMP201 due 7 May and by the 7th (or last business day before the 7th) of each month thereafter

• PAYE reconciliation due 29 May (last business day)

• Provisional tax returns and payments – ongoing, dependent on year-end

• Withholding taxes

• IT14SD and review requests

This update was last updated on 3 May 2020.