What It Means When Companies Receive Admin Penalties From SARS In South Africa, businesses are required to comply with a range of tax regulations, including filing returns and paying taxes on time. However, failure to meet these obligations can result…
What Happens If Your Company is Deregistered for Not Filing Annual Returns? Companies need to file annual returns with CIPC to stay legally active. If you miss this, your company can be deregistered. What Does Deregistration Mean? 1) The company…
As the owner of a start-up business, your main goals are most likely to maximise income while keeping costs as low as possible. Therefore, in most cases, the appointment of professional accountants is placed on hold to save money as…
At Business Services.Com, maintaining accuracy in our monthly accounting is critical. We focus on reducing human error through structured processes and continuous reviews. Here’s how we ensure that the accounting work has little to no errors. 1. Monthly Reviews with…
Background All individuals that are South African Tax Residents and that earn taxable income, in the form of a salary or otherwise, are liable to pay tax on their personal taxable income should it exceed the annual thresholds as defined…
In the world of business and tax compliance, staying up-to-date with regulatory requirements is crucial. A vital aspect that is often overlooked is the SARS Representative Update. If you’re wondering why this update is important and what might happen if…
When it comes to a professional industry such as accounting, ethics and ethical behaviour are very important principles and should be adhered to at all levels within the accounting industry, from the simplest transaction allocation to the most in-depth review…
An EMP501 reconciliation is a statutory return that all employers registered for PAYE must submit to SARS. It is required to be filed twice a year and plays a vital role in ensuring that your business’s payroll information is accurately…
Understanding IT14 Submissions in South Africa: Why Timely Income Tax Submission Matters Navigating the complex world of taxes can be a daunting task for businesses, but in South Africa, one key element stands out: the IT14 submission. This crucial component…
So you have the idea of starting your own company and becoming your own boss, reaching new levels. You have the idea, the concept, the business plan, the know-how on how to get the business off the ground, but not…