This rate may make it easier to calculate your total expected on your tax filings going forward. Generally, the profits of companies and close corporations are taxed at a standard 28% whilst the profits of trusts (other than special trusts) are taxed at 45%.
2024 tax rates, thresholds and allowance for individuals, companies, trusts and small business corporations (sbc) in south africa. Answer tim’s easy questions to find out if your business qualifies for the sbc tax rates from sars.
See The Tax Rates For Companies, Trusts And Small Business Corporations (Sbc) Here.
Once qualified, you can calculate your tax liability using the reduced sbc tax rates.
You Would Then Need To Make The Relevant Tax Adjustments In Order To Arrive At The Corporate Taxable Income For The Year.
Generally, the profits of companies and close corporations are taxed at a standard 28% whilst the profits of trusts (other than special trusts) are taxed at 45%.