Government has announced some tax relief for companies to give some relief for a few months. The following was announced:
- The government will provide a tax subsidy of R500 for all private sector employees who earn less than R6 500 per month. This will continue for a period of 4 months starting end of March 2020.
- All companies with a turnover of less than R50m per year, will be allowed to delay 20% of their PAYE payments for the next four months. This is only applicable to companies who’s taxes are up to date.
- These companies will also be allowed to delay a portion of their provisional tax payments towards income tax for the next 6 months.