Tax Reference Guide
South African Tax Glossary
Navigate the complexities of South African tax law with our easy-to-understand glossary of common terms.
Accredited Professional Memberships & Regulatory Compliance
CIBA MemberBiz Accountant
SAIT MemberTax Practitioner
SAICA AffiliateChartered Accounting
S
SARS RegisteredTax Practitioners
CIPC AgentCompany Registry
Capital Gains Tax (CGT)
A tax levied on the profit made from the disposal of a capital asset.
PAYE (Pay As You Earn)
The system whereby employers are required to deduct income tax from their employees' salaries.
Provisional Tax
A method of paying income tax in advance to ensure the taxpayer does not have a large tax debt on assessment.
Value-Added Tax (VAT)
An indirect tax on the consumption of goods and services in the economy.
Turnover Tax
A simplified tax system for micro-businesses with a qualifying turnover of up to R1 million per year.
Input VAT
VAT that a vendor pays on goods and services acquired for the business.
Output VAT
VAT that a vendor charges on the sale of goods and services.