Tag: BusinessCompliance

Businesses claiming diesel refunds may be inclined to view the South African Revenue Service’s (SARS) new diesel refund registration system as little more than an administrative change. However, the reforms signal a far more fundamental shift.

When organisations conduct due diligence on a new customer, supplier or business partner, they often feel reassured once they verify the basics. The company registration checks out, the directors are identified, and the necessary documentation has been collected. The onboarding process then moves forward with confidence.

Value-Added Tax (VAT) remains one of the most powerful revenue instruments available to the South African fiscus. In practical terms, it continues to rival personal income tax as a primary contributor to government revenue. It also remains indispensable to the South African Revenue Service (SARS)’s collection mandate. This reality matters.

Standard Bank’s latest Township Informal Economy Report reveals that eight out of ten township traders are not registered. From our work with entrepreneurs, this reflects deeper barriers - not just administrative, but psychological and structural - that keep many businesses trapped in informality.