How tax relief can cushion pain of COVID-19 – Written by Juanita van der Merwe in Business day.
For those who missed it, please click here to listen to AJM founder and director Dr. Albertus Marais explaining how SARS has to act as both proverbial shepherd and butcher in providing relief for COVID-19, while still aggressively targeting tax collection.
Trending Now: AJM Director Dr Albertus Marais unpacks the second-phase tax measures to help alleviate some of the covid-19 pain for businesses.
National Treasury has
published the draft bill to
formalise tax relief measures
available to small businesses as a
result of the COVID-19 disaster.
The draft legislation clarifies a
number of matters that were
previously the subject of uncertainty,
following President Ramaphosa’s
initial announcement of these
measures. Since publication, a
further media statement has also
been issued to announce the
imminent introduction of further
relief measures announced by the
President on 21 April.
AJM founder and Director Dr. Albertus Marais offers sage advice to businesses and entrepreneurs trying to navigate the various, but complex, COVID-19 tax relief and support measures.
Following the announcement by Pres. Ramaphosa on 23 March 2020 of the national lockdown to be put in place and which is still observed by South Africa, National Treasury has released a draft explanatory memorandum on Sunday 29 March to further clarify the economic relief measures announced by Pres. Ramaphosa. These measures are intended to provide tax relief to qualifying businesses in the short-term period.