Ever caught yourself reviewing a payment and wondering why the amount received is less than what was agreed? If you’re doing business in Kenya, chances are you’ve encountered withholding tax in action. As a business owner working with African entrepreneurs for over a decade, I’ve seen firsthand how withholding tax affects cash flow and financial…
All businesses or organizations have two indispensable financial flows: Expenses and Revenue. The expenses part is what we refer to as accounts payable (AP). Let’s have a quick understanding of the mentioned terms. In simple words, revenue refers to the money coming in, and expenses refer to the money going out. The money coming in…
Ever found yourself staring at a VAT registration form, wondering if your business even needs to register? Or maybe you’ve been hit with that dreaded realization that you’ve crossed the registration threshold and have no idea what to do next? I’ve been there, and so have countless South African business owners I’ve worked with over…
Are you a small business owner in South Africa, trying to wrap your head around the complex world of taxes? Well, you’re in the right place! In this article, we’re going to break it down for you in plain, easy-to-understand terms. Across Africa, small business owners are struggling with complex tax requirements that can make…
In our business structures in South Africa guide, we’ve explained the different types of company formations that are legal in South Africa. In this article, we will talk mainly about sole proprietorship. This includes what it means, how to register for it, and the several technicalities surrounding it. As someone who’s spent over a decade…
If you’re new to the business scene in South Africa and find yourself scratching your head over all the different legal business structures and their consequences, starting a new business can feel like a pretty daunting task. You see, before you even dive into the nitty-gritty of running a company, the very first step is…
One question I hear constantly is: “What exactly makes a proper tax invoice under UAE VAT laws?” Let me break it down for you. A tax invoice is a formal document issued by VAT-registered businesses for the supply of goods or services. But it’s more than just a receipt. It’s a critical document for VAT…
Previously, in our UAE corporate tax guide, we’ve talked about what corporate tax in the UAE is and how it works. In today’s UAE corporate tax guide, we’ll learn how you can calculate it as a business owner. If you’re a business owner in the UAE, it’s crucial to know how to calculate your UAE…
In our previous article, we discussed the MSME registration process in India. As it was an integral part of MSMEs in general, we had to talk about the benefits of MSME registration, that you can enjoy as a small business owner. There are many legalities surrounding MSMEs in India, however, we’ll discuss the benefits and…
The demand for revision in the definition of MSME has been pending for a long. The low threshold in MSME definition has created a fear among MSMEs of graduating out of the benefits and hence killing the urge to grow. The new MSME registration process and definition have been simplified, clearing away any previous fears…