GT Consulting-Accounting & Taxation

18/08/2021

18/08/2021

Book a free consultation

22/04/2021

If a company or close corporation has filed its tax returns with Receiver Of Revenue (ROR), is it still required to file annual returns with BIPA?

A clear distinction must be made between an annual return and a tax return. An annual return is a summary of the most relevant information regarding the company or close corporation and is filed with BIPA while a tax return focuses on taxable income of a company or close corporation in order to determine its tax liability to the State and is filed with ROR.
Compliance with the one does not mean that there is compliance with the other. It is two different processes, administered in terms of different legislation by two different government departments.

The Companies Act 28 of 2004 requires that all active Companies and Close Corporations submit their Annual Duty returns. Annual Duties are payable to the Registrar of Companies and Close Corporations at the end of the entity's financial year. Failure to pay annual duties constitutes an offence under Section 181 of the Companies Act of 2004 and Section 26 of the Close Corporation Act, 1988. Penalties are provided for under those two Acts.

Are you behind with your annual returns submissions?
Call Us: 081 430 5961/081 868 7106

29/03/2021

Let us help you process all your invoices, prepare or update your fixed asset register. We are here to sort out all your bookkeeping matters.

Reach out to us and experience the best service in town.

29/03/2021

Do you need an accounting officers letter? to register your business.
and you have this big business idea and you do not know how to put it on paper?
We got your back! GT Consulting exist to help you kick start your business.