11/04/2025
Do you have a company?
This is how to make it comply👇
1. CIPC Compliance:
Company registration: Register your business with CIPC to obtain a registration number and legal status.
Company amendments: Update any changes in company details (e.g., address, name, or structure) with CIPC.
Annual returns: File annual returns to CIPC to keep the business status active.
Beneficial Ownership: File BO returns once or whenever there are changes
Directors changes: Inform CIPC of any changes in company ownership or directorship.
2. Accounting & Payroll:
Monthly bookkeeping: Record all business transactions, income, and expenses regularly.
Monthly payroll: Process salaries and wages, ensuring compliance with tax and employment laws.
Financial statements: Prepare and submit accurate financial reports (balance sheet, income statement) annually.
Shareholder certificates: Issue certificates to shareholders as proof of their ownership in the company.
B-BBEE sworn affidavit: Apply for BEE certificate and have it ready for opportunities.
3. SARS (Tax) Compliance:
Income tax (IRP6, ITR14): Pay provisional tax (IRP6) every six months and submit your annual company tax return (ITR14) to SARS. You submit 3 income tax returns per year. Two provisional (IRP6) and one annual return (ITR14)
VAT: Charge VAT on taxable supplies, submit bi-monthly VAT returns, and pay VAT due to SARS. (This is for VAT registered businesses only)
PAYE: Deduct Pay-As-You-Earn tax from employees' salaries and submit monthly PAYE returns. This is for companies with employees. Note that directors are employees.
Personal tax: File your personal income tax returns if you are a director or member of a CC earning taxable income.
Tax clearance certificate: Ensure all taxes are up to date and apply for a tax clearance certificate for tenders or contracts.
4. Department of Labour:
UIF registration: Register the business and employees for the UIF
Submitting UI-19: Submit monthly UIF declarations indicating UIF due, changes in employment, including new employees or terminations.
Issuing UI-19 to departing staff: Provide this form to employees when they leave, for them to claim UIF.
Workmen’s Compensation (COIDA): Register for COIDA, report workplace injuries, and pay annual assessments.
5. National Treasury (Central Supplier Database - CSD):
CSD registration: Register your business on the CSD to be eligible for government contracts and payments.
6. CIDB (Construction Industry Development Board):
Construction grading: Apply for a CIDB grade, which certifies your business to work on government construction projects based on your capability.
7. Other Regulatory Compliance:
Letter of good standing: Obtain this letter from the Department of Labour to prove you’re up to date with Workmen's Compensation.
Industry-specific registration: Register with relevant industry bodies or regulators based on the sector your business operates in (e.g., health, education, mining, etc.).
Good luck
