tonga: new small business tax

A new small business tax (SBT) system came into force on 1st August (for the year beginning 1st July 2014) for those individuals in business whose gross annual turnover (sales) is below $100,000 TOP.

WHO and WHAT Small Business Tax aimed at?

• Informal sector
• small businesses whose accounts are unreliable or records not kept at all
• help reduce compliance costs

For more details on the new small business tax - please follow the link to my Resources page here