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PRIMORIAL Solutions (Pty) Ltd May 2021
Uncertain, Costly Power Supply: How to Mitigate Your Risk
As Eskom’s customers face their first electricity bills after the latest tariff increase of 15.06%, effective from 1 April, it is an opportune time to review reliance on an increasingly costly and ever-less reliable power supply and to consider alternatives that will support a difficult recovery from 2020: a year of not only lockdowns but also 859 hours of load shedding.  

With Eskom itself expecting another five years of load shedding and further tariff increases on the cards, businesses are well-advised to understand the impact of load shedding and high electricity costs on them and to take the necessary steps to mitigate the risks of an uncertain and expensive power supply. 

We share 6 practical tips to help you on your way… 
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A Basic Guide to PAYE and Four Common Mistakes  
POPIA and Your Business: A Practical 5-Step Action Plan to Implement Now  
Where does Fairness Belong in Your Business and Why Should You Care?  
PAYE tax is one of the most frequently confused tax contributions both among employers and employees. It can cause anxiety, but it effectively only means that tax is being paid on behalf of the employee as it is earned, rather than at the end of the tax year, hence “Pay As You Earn”. 

Despite the seeming simplicity of this concept there are a number of errors often made in its implementation and both employers and employees frequently have questions regarding the amounts paid, when and how they are paid and just how much is due at the end of the year. This is a basic guide to what PAYE is, and more importantly, how to avoid the most common problems.
The clock is ticking, and by 1 July 2021 you need to be fully compliant with POPIA (the Protection of Personal Information Act). 

Don’t fall into the trap of thinking “I can ignore this for now, I have until the end of June to do something about it”. 

Your business will benefit if you take steps right now to understand both how POPIA affects you, and how you can begin preparing for your compliance process. We share 5 practical tips on how to get started…
Fairness is a practical value in both personal and corporate life. This is not just theory. Read this and understand why it is imperative for your business.

Many factors may place doubt on the integrity and reliability of a business. This may negatively impact the trust with which the business may have previously been held, however, treating all with fairness retains and restores that trust.  

Read on for some thoughts – and practical examples - on why an investment in fairness matters to every business.
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Your Tax Deadlines for May 2021
  • 7 May – Monthly Pay-As-You-Earn (PAYE) submissions and payments

  • 25 May - Value-Added Tax (VAT) manual submissions and payments

  • 28 May - Excise Duty payments

  • 31 May - Value-Added Tax (VAT) electronic submissions and payments

  • 31 May - Corporate Income Tax (CIT) Provisional Tax Payments where applicable

The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

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