On 25 March 2022, the South African Revenue Service (SARS) announced the release of its 7-page “Excise Essential Guide for Small Businesses” to assist small businesses.
Excise Tax is indirect duties, levies and taxes imposed on certain locally manufactured and imported goods, which are consumed in South Africa. Excise Legislation makes provision for certain goods to be taxed at the closest point to where they are manufactured.
The revenue-raising objective of Excise Tax is to finance government’s expenditure for education, housing, health, etc. through the annual budget. Another objective is to utilise the tax as an instrument to discourage the consumption of certain products that are potentially harmful to citizens’ health and the environment.
The Essential Guide is accessible at:
https://www.sars.gov.za/wp-content/uploads/Docs/CandE/Excise-Traders-Leaflet-March-2022.pdf