Registration compliance and Tax compliance for business

1. COMPANY REGISTRATIONS AND
COMPLIANCE
BY AKHILE NCUBE

2. Requirements for Registration
 Four names of your choice are required according to order of
preference
 Physical Address for your Business
 Certified Identity (ID) document or Passport for all Directors
 Contact Numbers for all Directors
 Addresses for All Directors
 You need to be above 18years of age
 After registering your company you are required on an annual
basis to submit annual returns declaring your Income.
 If not adhered to upon 3 annual returns outstanding the company
will be deregistered.

3. Different Types of Companies in South Africa
 Sole Proprietor
 Private Company
 Partnership
 Personal Liability Company
 Close Corporation Cant be registered in
South Africa any more

4. Time Frame For Registration
It takes about 2 to 7days

5. Compliance
Income Tax
 All companies upon Registration they get
allocated an Income Tax Number (SARS)
 You are required to submit an annual Income Tax
Return (IT14) requires one to have annual
Financial Statement
 There are two Provisional Returns to submitted
IRP6
 The provisional Taxes are an estimates or
forecasts of what you anticipate for the next
Financial Period

6. Compliance Continued
VAT (Value Added Tax)
 It is not a Requirement that all companies Register for Vat
Who Can Register For Vat
 It is Mandatory for any Business to register for VAT if the
Income earned in any twelve-month period is likely to
exceed R1 million
 Any Business may choose to register voluntarily if the Income
earned, in the past twelve month Exceeded R50 000
 Submission can be done on a monthly basis, after every two
Months, after every 6months and some annually depending
on your registration

7. Annual Financial Statements
 There is a need for all operational Companies to
draw up their Annual Financial Statements
 This will assist your company in so many ways
 It will help your review your annual performance
 You will use the documents to submit your Annual
Income Tax Return
 Submission of your CIPC Return
 When making any credit facility application

8. Thank you
 Thank you for Listening
 If you perhaps have further questions or need to be
assisted in any of the discussed information
 Please do contact me Below
 We can assist you with all Registration
 Contact details: Akhile on 078 870 7543
 Email: services.createvo@gmail.com
BE BLESSED