SARS tax returns - SACORP Group

SARS Tax Returns Submission

Once a company is registered, it must register for and declare various taxes by submitting Tax Returns on a monthly, bi-monthly, or annual basis. To avoid over- or under-taxation, declarations must be correctly completed and filed on time.

When do I have to submit my tax returns?

VAT (VAT201)
Businesses with a turnover of over R1 million must register and file VAT returns every two months.

Pay-As-You-Earn (EMP201)
Employers who are registered with SARS for PAYE must also register for and pay over Unemployment Insurance Fund (UIF) and Skills Development Levy (SDL) contributions. Monthly PAYE returns are required.

Provisional Tax (IRP6)
Incorporated companies are automatically registered for Provisional Tax. All small business owners who earn income other than a salary must register for Provisional Tax. You must file an IRP6 twice a year and pay your provisional tax.

Company Income Tax (ITR14)
Once registered, companies must file an annual Company Income Tax Return (ITR14). An ITR14 is required once a year at the end of the fiscal year. The company has 12 months to file the ITR14.

Company Registration
Quick And Easy

Whether you are the sole proprietor of the company or one of the shareholders of a partnership firm, achieving this legal entity is a must as you can run your business smoothly post company registration.

FAQ

What is the significance of company registration, and how does it impact my business's legal status??

Company registration is crucial for establishing your business as a separate legal entity, which not only provides personal liability protection for owners but also facilitates access to funding, contracts, and other essential business operations.

In what ways can registering my business enhance its credibility and operational effectiveness?

By registering your business, you enhance its legitimacy in the eyes of customers, suppliers, and potential investors, which can lead to increased trust, improved brand reputation, and better opportunities for growth and partnership.

Can you elaborate on the various types of business structures you assist with, particularly in relation to New (Pty) Ltd registrations?

We specialise in the registration of New (Pty) Ltd companies, which are private entities limited by shares. This structure offers flexibility in ownership, limited liability for shareholders, and the ability to raise capital through the issuance of shares.

What specific documentation is necessary for the successful registration of my company, and how can I ensure I have everything in order?

The documentation typically required includes identification documents, proof of address, and details of the directors and shareholders. Our team provides a comprehensive checklist to ensure you have all necessary documents prepared for a smooth registration process.

What is the expected timeline for completing the company registration process, and what factors might influence this duration?

The registration timeline can vary from a few days to several weeks, influenced by factors such as the package selected, the accuracy of submitted documents, and any additional compliance requirements specific to your business.