Why do I owe SARS money if my company made no income?
It can be confusing to see that you owe SARS money when your business didn’t make any profit. Here is why this happens: once you register a company, SARS requires you to submit a tax return every single year.
It does not matter if your company made:
– A profit
– A loss
– No money at all (this is called a nil return)
SARS still needs you to file that paperwork no matter what.
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