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Definition
Tax is a compulsory contribution to state revenue, levied by government on workers’ income and business profits, or added to the cost of some goods, services, and transactions. It is a means by which governments finance their expenditure by imposing charges on citizens and corporate entities. Governments use taxation to encourage or discourage certain economic decisions. For example, reduction in taxable personal (or household) income by the amount paid as interest on home mortgage loans results in greater construction activity, and generates more jobs. – thesait.org.za

What they do 
Tax Professionals assess and manage risk by collecting the right information, completing returns and ensuring that the right processes are followed, they work as: tax specialists in private practice; tax advisors in commerce and industry; tax auditors or investigators in SARS. Taxation specialists provide a variety of services, including advising clients on tax-related matters, calculating their tax liability and handling paperwork for SARS. Due to the evolving tax policy as well as the complexity of the tax policy, more specialisation is required e.g. transfer pricing, indirect taxation, mergers and acquisitions, corporate tax. – thesait.org.za

“In this world nothing can be said to be certain, except death and taxes.” – Benjamin Franklin

School Subjects: 
Mathematics
Language of Learning and Teaching

DID YOU KNOW?

  • South African tax revenue has increased from R100 billion in 1994 to R814.1 billion in 2012-13.
  • South Africa ranks 54th in a comparison of the overall tax burden of 150 countries worldwide.
  • The new learnership at SAIT is an important learning pathway that leads to the occupational qualification: Tax Professional
  • A qualified Tax Professional can expect to earn 10% to 15% more than their peers in the financial department due to increasing demand.
  • A global need for skilled resources exists, giving qualified Tax Professionals the opportunity for secondment into different geographical markets.

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