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Income Tax Act, 1962 (Act 58 of 1962)

Chapter II: The Taxes

Part IV : Turnover tax payable by micro businesses

48A. Imposition of tax

 

There must be levied and paid for the benefit of the National Revenue Fund a tax, to be known as the turnover tax, payable by a person that was a registered micro business during a year of assessment, in respect of its taxable turnover for that year of assessment.