1. Cash Flow

  • Discuss payment holidays with finance institutions

  • Make a payment arrangement with your landlord

  • Have open and honest conversations with creditors and service providers. Make payment plan arrangements:

Extend payment terms
Decrease payment intervals

  • Continue to pay employees if you have the cash flow. If you don’t, pay what you can to reduce their financial impact and apply for the COVID-19 TERS benefit.

  • Avoid unnecessary expenses, especially those of luxury and leisure.

2. Tax Relief

  • There is no relief for VAT. However, if you do pay late or underpay, submit a Request for Remuneration with SARS

  • For PAYE relief, declare the full/total PAYE and pay 65% of the PAYE. SARS is not waiving 35% of the PAYE

  • There is a payment relief for the Skills Development Levy. Companies and entities registered for this do not have to pay for the following 4 months of May to August 2020

  • Your calculation and declaration of Provincial tax has to be within a 65% accuracy. As mentioned above, SARS is not waiving the tax, but this can be utilized as a a short term tax and cash flow relief.

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