TAXATION FOR START-UP BUSINESSES

Every small business in South Africa has to register with the South African Revenue Services for different forms of tax. The following are the different forms of tax that your company may need to comply with: 

  • Turnover tax 
  • Value Added Tax (VAT) 
  • Employees’ Tax – Pay As You Earn (PAYE)
  • Unemployment Insurance Fund (UIF)
  • Skills Development Levy (SDL) – for companies with a salary bill of R500 000 over 12 months.

Click here for SARS requirements for small businesses to read more about the above and evaluate where your company is and what you must do next to ensure that your complies with SARS legislation.


REGISTER WITH THE DEPARTMENT OF LABOUR

If your business is going to be employing staff, it is a legal requirement for your company to register with the Department of Labour. Your company will also need to adhere to the following employment legislation if you will be employing staff in your company:


COMPANIES AND INTELLECTUAL PROPERTY COMMISSION

  • Registration of companies, co-operatives and Intellectual Property Rights (trade marks, patents, designs and copyright) and maintenance thereof and related services.
  • Registering of a business and company registration documents

Companies and Intellectual Property Commission (CIPC) – website: http://www.cipc.co.za/


COMPENSATION FUND

  • According to the Department of Labour, all employers who employ one or more workers in connection with their business or farming activities, are required to register with the Compensation Fund. 

Click here to access the registration form and process to be followed in order for your company to be registered.


ENVIRONMENTAL LEGISLATION

Have knowledge of applicable environmental legislation. The following link leads to the different Acts and Regulations that fall under the Department of Environmental Affairs, click on the link to see the Acts and Regulations and identify the ones applicable to your company and ensure that your company complies with them. 

Click here to view environmental legislation


METAL AND ENGINEERING INDUSTRIES BARGAINING COUNCIL (MEIBC)

The jurisdiction of the MEIBC covers all firms, which fall within the scope of registration of the metal and engineering industries. By law, those companies are required to be registered with the MEIBC

Click here to register with the MEIBC


METAL INDUSTRIES BENEFIT FUNDS ADMINISTRATORS (MIBFA)

MIBFA is tasked with administering the Funds of employers and employees in the Steel and Engineering Industries. Companies operating in the steel and engineering industries need to register with MIBFA.

Click here for more information and to register with MIBFA


INDUSTRIES' MAIN AGREEMENT

Companies operating in the metals and engineering industries need to:


SOUTH AFRICAN BUREAU OF STANDARDS (SABS)

  • Certain products may need to meet the standards of the SABS and have its approval. 

Click here for further information on services of the SABS