A tax submitted to SARS either monthly or bi-monthly. It is calculated on sales and claimable on allowable expenses, determining if you owe SARS or are due a refund.
A monthly employer payment declaration to SARS. It includes the declaration and payment of PAYE, UIF, and SDL deductions from payroll.
A bi-annual reconciliation submitted to SARS where you declare for whom the payroll contributions (PAYE, UIF, SDL) were made. This process generates IRP5/IT3(a) certificates.
The monthly submission to the Department of Labour of a record of employed staff and their earnings. Essential for compliance and for employees to claim benefits.
Certificates generated during the EMP501 process that detail an employee's income and deductions for the year. They are necessary for submitting personal income tax returns (IT12).
Detailed financial reports covering a period of less than 12 months. They are vital for internal decision-making by directors and for bank financing applications.
Annual reports issued after a company’s financial year-end (covering at least 12 months). They are essential for SARS, financial institutions, directors, and shareholders.
The annual company tax return submitted to SARS along with the financial statements for assessment.
A return based on estimated income, submitted to SARS twice a year. Accurate estimates are critical to avoid understatement penalties.
A yearly return submitted to the Companies and Intellectual Property Commission (CIPC) on the anniversary of an entity's registration. A fee based on turnover is required to keep the entity active.
Individuals who own or control 5% or more of a company, either directly or indirectly. Their details must be disclosed to the CIPC.
An annual submission of an estimated payroll to determine a fee. This provides financial coverage for employees injured or ill due to work and is necessary to obtain a Letter of Good Standing.
A certificate issued by the Department of Labour upon compliance with COIDA requirements. It is often required for tenders and contracts.
The national tax authority responsible for collecting taxes and ensuring compliance.
The government body responsible for the registration of companies, co-operatives, and intellectual property rights (e.g., trademarks, patents).
The national database of all suppliers to the South African government. Registration is mandatory for any business wishing to pursue public sector tenders.
A government policy to advance economic transformation and enhance the participation of Black South Africans in the economy. Compliance is often measured via a scorecard.