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Income Tax Act, 1962 (Act No. 58 of 1962)

Chapter II : The Taxes

Part IV : Turnover tax payable by micro businesses

48B. Rates


(1) The rates of tax chargeable in terms of section 48A must be fixed annually by Parliament.


(2) The rates fixed by Parliament in respect of any year of assessment continue to apply until the next such determination of rates and will be applied for the purposes of calculating the tax payable in respect of the taxable turnover of a registered micro business during the next succeeding year of assessment if, in the opinion of the Commissioner, the calculation and collection of the tax chargeable in respect of such taxable turnover cannot without the risk of loss of revenue be postponed until after the rates for that year have been determined.