If my turnover drops below the 28% threshold, do I still have to pay tax at 28%?

As a small business, if my turnover is R14 million in year one and then drops to R12 million in year two, do I still have to pay tax at 28% per annum,even through the turnover has dropped below the threshold?

If you meet the definition of a Small Business Corporation, the turnover level being R20m, then you will not need to pay 28%. Please have a look at our questionnaire on Is my Business a Small Business Corporation?