It is a method of paying the income tax liability in advance, to ensure that the taxpayer does not have a large tax debt on assessment. Provisional tax allows the tax liability to be spread over the relevant year of assessment.

The term “income tax” refers to a type of tax governments impose on income businesses and individuals within their jurisdiction generate. By law, taxpayers must file an income tax return annually to determine their tax obligations. Income taxes are a source of revenue for governments.

Value-added tax (VAT) is a consumption tax on goods and services that is levied at each stage of the supply chain where value is added, from initial production to the point of sale.

Employees’ Tax refers to the tax required to be deducted by an employer from an employee’s remuneration paid or payable. The process of deducting or withholding tax from remuneration as it is earned by an employee is commonly referred to as PAYE.

The POPI Act sets out the minimum standards regarding accessing and ‘processing’ of any personal information belonging to another. The Act defines ‘processing’ as collecting, receiving, recording, organizing, retrieving, or the use, distribution or sharing of any such information.