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10 things to consider about registering your company & paying tax

South Africa is alive and buzzing with entrepreneurs, possibly because the country’s high unemployment rate is spurring individuals on to start their own businesses. But going into business blindly can be daunting. Not knowing the necessary procedures and rules of engagement can get problematic and, even more importantly, cost a bit more than a few …

Different types of companies: NPC / NPO

A non-profit company is a company incorporated for public benefit or other object relating to one or more cultural or social activities, or communal or group interest. The income and property of a non-profit company is not distributable to its incorporators, members, directors, officers or persons relating to any of them and must be used …

Different Types of companies: Registered Pty Ltd. Company

Since 1 May 2011, the Companies and Intellectual Property Registration Office (CIPRO) ceased to exist and was replaced by the Companies and Intellectual Property Commission (CIPC). The New Companies Act came into being at the same time, changing the way business owners register a company. The Act stipulates that no new close corporations (CC) can …

Different types of companies: The Sole Proprietor

Most small businesses are sole proprietorships because this type of business is the easiest and least expensive way to start a business. But what is a sole proprietor? Should you start a sole proprietor business? Are You a Sole Proprietor? If you haven’t selected a specific business form and registered it with your state, you …

CIPC FAQ: Accounting Officer

Duties of accounting officers   62.(1) The accounting officer of a corporation shall, not later than three months after completion of the annual financial statements-   (a) subject to the provisions of section 58 (2) (d), determine whether the annual financial statements are in agreement with the accounting records of the corporation;   [Para. (a) substituted by s. 13 (1) (a) of …

CIPC FAQ: Deregistration

Will CIPC provide notification of the pending deregistration? Yes. During the deregistration process notifications are mailed to the company or close corporation’s registered postal address as per CIPC records, informing it of the intended deregistration and a request to either provide confirmation that it is still active or to file outstanding annual returns.  At the time …

CIPC FAQ: Financial Statements

Must financial statements be filed with the annual returns? Companies (except external companies) are required to either file its audited financials, reviewed financials or financial supplement with its annual returns. All companies (except external companies) and close corporations, if it is required in terms of Companies Regulation 28 read with Companies Regulation 26 to prepare …

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