Tax payers usually receive notices by the IT department to ensure they complete the filing process without any delays. Tax Planning Any loss against house property, depreciation, business loss and any form of loss not set off against the income can be carried forward to the subsequent years. Corporate Income Tax (CIT) is a tax imposed on companies resident in the Republic of South Africa i.e. incorporated under the laws of, or which are effectively managed in, the Republic, and which derive income from within or outside the Republic. Non-resident companies which operate through a branch or which have a permanent establishment within the Republic are subject to tax on all income from a source within the Republic.
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